Güzelyurt, Lefke and Karpaz regions have 200% investment reduction
European University of Lefke (EUL) Faculty of Economics and Administrative Sciences held a conference on “General Economic Situation of TRNC”. At the conference held in EUL TV Hall, the Undersecretary of the State Planning Organization Muhtaroğlu participated as a speaker.
Muhtaroğlu, who described the general economic situation of the TRNC in three chapters, cited these sections as “Realized Data, Forecast and Target Information, Private Sector Investment Incentives for the State Planning Organization”.
Muhtaroğlu, who started his presentation with GDP (Gross National Product) and growth rate, emphasized that the TRNC economy grew 3.7% to 3.9% between 2010 and 2011, grew somewhat in 2012-2013 and reached 1.8, 1.1, A decrease in the meaning of some growth compared to other years. Muhtaroğlu stated that the GNP increased by 4.8% and 4% between 2014 and 2015 and that these increases were a high rate when compared to the European Union countries and that this ratio increased by 1% and 1.5% in the European Union .
Muhtaroğlu stated that the growth in the Annan Plan is an improvement, especially the growth in the construction, tourism and trade sectors. Muhtaroğlu said that in 2014-2015, especially in agriculture, industry, wholesale and retail trade, tourism and university sectors, student numbers, fixed capital investments and employment. He said that there were significant developments experienced in these fields. Muhtaroğlu said that it is expected to grow by 2% in 2016 and that easier comments can be made when certain figures are released.
Muhtaroğlu: The average growth target until the end of 2019 is 5.2%
Evaluating fixed capital investments, Muhtaroğlu said that private sector investments are at the forefront, that private sector fixed capital investments contribute directly to the economy and that the share in total investments is 82%. Muhtaroğlu also provided detailed information on domestic and foreign debts, the budget revenues of the country, the developments in deposits in the banks, inflation and employment issues.
Muhtaroğlu stated that an average growth rate of 5.2% would be expected by the end of 2019 and that the rate of growth in 2016 will be 2% and that the rate of growth will increase in the case of catching this rate and that positive developments will be experienced in the unemployment issues.
Muhtaroğlu: Güzelyurt, Lefke and Karpaz regions have 200% investment reduction
Providing information about investment incentives, Muhtaroğlu said that the State Planning Organization has given incentives to private sector and that tourism, student dormitories, industry, manufacturing and private hospitals have been given incentives for this. Stressing that Guzelyurt, Lefke and Karpaz regions have 200% of the investment reduction, Muhtaroğlu said that those who will invest in these regions will benefit from attractive opportunities and exemptions, and that the other regions have a 100% investment reduction. Muhtaroğlu stated that in this frame, approximately 600 investors benefited from the incentive law in the country so far and that it has given the country economy an important impetus and that the newly built private hospitals, student residences, 5 star hotels, industrial facilities and factories are made with the investment incentive.
Following the question and answer session, Assit. Prof. Dr. Suphi Galip of Economics and Administrative Sciences who made technical contributions to the field of expertise to the State Planning Organization, was presented with a plaque of thanks by Muhtaroğlu.
In addition to this, Advisor to Rector Assist. Prof. Dr. Mehmedali Egemen has presented a plaque of appreciation to Muhtaroğlu in response to his contributions.