Huge borrowings by kktc

[Reyntj]

https://haberkibris.com/barcin-liyakats ... 05-24.html


This guy claims due to huge borrowings to pay salaries by october the goverment will be bankrupt...not my words by the way...


Not rocket science they created a price spiral here by hiking salary that they.cant afford to pay.

Turkey didnt increase salaries as much as here and i was initially surprised that as they fund trnc they sanctioned it.

Theres only turkey can bail trnc out. President Erdogan is very clever...there will be a price to pay.

[alphamike]

I honestly can't see how things can go on the way they are. some serious cuts need to be made by the govt. I am in no way an economist, but most sensible people realise this. Every time the min wage goes up, so does everything else, inflation is not good.
It's no longer an attractive holiday option for many. Used to be perhaps a little more expensive to get here, but cheap to eat out. That's gone now and prices are at the least on a par with UK or higher.
Personally, I am a bit lucky as I am vegetarian, but my dog isn't, and I buy meat/chicken for him, but at least I don't have to factor in the cost of meat for me. Not so long ago, I used to be able to save any excess from my monthly income (pension), that is no longer the case. I am minus £49 this month in the bank with about another week to go. I do have a bit of cash in TL, so expect I will be just hunky dory until next pay day at end of month.
I expect that others feel the same as I do, not having the cash they used to.

[Reyntj]

THE WHOLE DEBT IS BEING CLOSED WITH DEBT IN ORDER TO PAY SALARIES; ONLY SALARIES ARE BEING PAID. NO INVESTMENT, NO DEVELOPMENT, NO SYSTEM... INTERMEDIARIES ARE ACTUALLY PUTTING PRESSURE ON THE TAX OFFICE TO HAVE TAXES CANCELLED. THERE IS NO MONEY TO PAY SALARIES BUT EMPLOYMENT CONTINUES

Borrowing more than you bring in is not specific to trnc but they are not in the worldwide ponzi scheme where all the other countries lend to each other at low rates..

Trnc has limited options for its debts and corresponding high interest rates is a huge weight...

Turkey calling all the shots here moving forward or surrender to the greeks...

[laptawrinkly]

Things will never change given how things work here (same in the south TBH). Each political party (though they will deny this) is reliant on getting their 'voters/supporters' as beneficiaries of any election. I know when we moved here 30 years ago a local TC explained: after an election, it is like musical chairs at the higher levels of the civil service; out go those affiliated with one party (on paid 'gardening leave') in come the new lot. Those with large families' i.e, more potential voters, mysteriously get a job working for the Belediye/ Government before or after an election.

Turkeys don't vote for Christmas as the saying goes. 80% of the budget goes to pay civil servants wages, none of whom are on the minimum wage; judging by my own observations in the village, many of them also have second jobs (which is illegal for Gov' workers, including state hospital Dr's). It is also well known that certain Gov' workers get paid and do not go to work - see recent local press in the KIBRIS Postasi. Those that do go to work, my observations again, appear to be unsupervised so they do as little as possible - appreciate outdoor municipality workers such as street cleaners, strimming et cetera, have a hard job in summer, but year round I watch them just walking around (the more energetic of them!) the rest find a shady place and do little. Our municipality bill has just gone up again, by at least 30%, cleaning fee doubled, but they don't clean

Stories abound in the press recently about the latest batch of Gov' 'new-hirings' which the unions allege are against the laws currently- more money to be found. There are too many people benefitting from this farce for any 'voters' to elect a party that would suggest reducing the 'civil service' - it would simply be political suicide.

Kamu-Sen has also joined the chorus of those who receive their salaries without going to work in the public sector...

President Metin Atan announced and warned!

Many employees benefit from all the opportunities provided by the state, but when it comes to working, they don't even lift a finger...

We call this stealing the state!

In the meantime, it is a great injustice to the workers...

On one side, there are those who work tirelessly, and on the other side, there are those who use their political power to scrape things up!

Then there are complaints that things are not going well in the public sector...

You know, the Minister of Finance announced it recently!

Since there is a report, it is their duty to evaluate it...

Of course, if they are sincere in their statements!

Now you have to start somewhere!

https://www.kibrispostasi.com/c1-KIBRIS ... ga-gidelim 27/05/2025

Don't get me started on that construction at Metehan and what those running costs will be for little reward.

Note: This October there will be Presidential elections; some political leaders are also now forecasting there will be general elections after this in the New Year. All change???