Northern Cyprus eyes 2029 deficit cut to TL 21.5 billion from TL 32.5 billion in 2027

Northern Cyprus Finance Minister Özdemir Berova said the deficit in the 2027 fiscal year budget bill is projected at TL 32.5 billion. The stated goal is to reduce it to TL 21.5 billion by 2029.

Berova said budget revenues for 2027 are planned at TL 240.6 billion. Steps to combat the informal economy and strengthen revenue collection will continue, he noted.

Berova said AI-supported systems will be expanded in tax audits, and that digital transformation work aims to eliminate the need for ex officio tax assessment by 2030. Approximately TL 29 billion in financing from Türkiye is also projected for 2027.