UK economy in double-dip recession - how's the TRNC coping?

[Soner]

It was announced this week that the UK economy has returned to recession after shrinking by 0.2% in the first three months of 2012. Many are complaining that they are struggling as prices of household utility bills and food is constanttly rising but their wages are on freeze. The employed are on edge, knowing that the jobs they have can be taken away quite easily and the enemployed are still struggling to find work in the current climate.

How are people in the TRNC coping, is there high unemployment? Have gas, electricity, water etc... gone up dramatically, as well as food? Have people reacted to the change and tightened up on their spending? Which of course would have a knock on effect on local business.

[yorgozlu]

well Soner,perhaps the best way to pu it would be 6 to one,half a dozen to the other!


in 2008 I used to 100tl euro diesel in my navara and it used to almost fill it up,now I put the same amount,it's less then half full.Bottle of 10kg gas was 19 tl,now 40.
Of course one must bere in mind that in 2008 the interest rates for depositers were around 20+ %,now 10%.

The best way I can put it is,my brother in London said he wanted to move back over.I said..............bok yeyip yatma.Not because it is bad here or there but because it's very hard to re-start again,when one already has a some sort of life set up already.

[BLUE BUTTERFLY]

Hi Soner.
The cost of living has gone up here, but now that summer has arrived there are savings to be made, a gas bottle for cooking lasts longer as we have lots of salads and cook on the barbecue, the cypriot way, just use wood.

The solar panels heat the water, no need for the immersion heater.

We use a free standing fan, it costs next to nothing to run as opposed to a/c and it keeps the mozzies at bay.

At least the summer is guaranteed here, so what we save over the next 6/7 months, helps us pay the winter bills.

'Swings and roundabouts' really.

[andrew4232]

as we know the main rises have been, petrol which long term effects most things, electric which they claim is only due to the rising cost of oil and like all other countries it never drops when the oil does and alcohol mainly the imported stuff which i assume is due to exchange rates