TRNC Economics: The first quarter report of 2025 – Cyprus Newspaper

According to the Bulletin of the Central Bank of the TRNC on the first quarter of 2025, the number of passengers entering the country by air and sea increased by 29.6 percent, reaching 177 thousand 404 people from 136 thousand 905 people.

The Central Bank of the TRNC published a bulletin on the general appearance of the world economy, the first quarter of 2025, which includes the most up -to -date statistical data and evaluations related to the TRNC economy and the banking sector.

In the bulletin, the banking sector in the country, tourism, inflation, the number of employees registered in social insurance and budget developments were included.

In the Bulletin, the active total of the banking sector increased by 10.39 percent compared to December at the end of March 2025 and increased to TL 363.737.5 million; In January 2025, compared to the same period of 2024, the number of passengers entering the country by air and sea increased by 29.6 percent, reaching 177,404 people from 136,905 people; In the first quarter of 2025, inflation was 2.02 percent, 2.16 percent and 4.28 percent in January, February and March, respectively compared to the previous month.

As of October 2024, the number of employees registered with social insurances with 159.321 increased to 159.510 as of January 2025, compared to the same period of the previous year in the first quarter of the 2025 financial year, 65.4 percent of the total increase in the total expense of TRNC budget revenue compared to the same period.

The data in the newsletter were summarized as follows:

« TRNC Banking Sector Developments

The active total of the banking sector increased by 10.39 percent to TL 363.737.5 million compared to December at the end of March 2025. As of March 2025, the total gross loans of the sector was TL 148,931.7 million and the total deposit was 282.373.2 million TL. In the first quarter of 2025, the biggest share in the active sum of the sector belongs to gross loans with 40.94 percent. Gross loans follow 31.83 percent of cash and cash -like items, respectively, MDC with a share of 17.29 percent and other assets pen with a share of 9.93 percent. Gross loans increased by 44.45 percent compared to the same period of the previous year. As of March 2025, 77.63 percent of the passive sum is deposit, 10.84 percent consists of equity, 4.96 percent of debts to banks and 6.56 percent of other passive pens.

As of March 2025, operating loans are in the first place with TL 105.783.8 million TL and consumer loans are second with TL 25.452.5 million TL. In the first quarter of 2025, TL 72.554.6 million of the deposit was in TP, 209.818.6 million TL was in YP, 15.06 percent in deposits in deposits in terms of TP, 8.55 percent increase in deposits in terms of the same period. The share in deposits increased from 15.41 percent to 25.69 percent. In the first quarter of 2025, TL 43.486.1 million of the net loans consists of TP and TL 100.554.8 million of YP loans. In YP loans, an increase of 17.02 percent increased compared to the previous quarter. Compared to the same period of 2024, as of March 2025, the share of YP loans in total loans increased from 65.05 percent to 69.81 percent. TP deposit, excluding TP, TP loan transformation rate decreased from 109.2 percent to 59.94 percent compared to the same period of the previous year as of March 2025, and the YP deposit, YP loan, except TGA, increased from 37.03 percent to 47.92 percent. The self -resources of the banking sector increased by 95.37 percent in the first quarter of 2025 compared to the same period of the previous year and reached TL 39.433.5 million.

SYSR, which was 19.39 percent as of the end of December 2024, increased by 0.43 points in the first quarter of 2025 to 19.82 percent.

-KKTC tourism developments

In January 2025, compared to the same period of 2024, the number of passengers entering the country by air and sea increased by 29.6 percent, reaching 177,404 people from 136,905 people. In January 2024, the number of people except the TRNC nationalities entering our country at the land gates was 342.100, while this figure was 307.231 in the same month of 2025. In January 2025, when the entrances from the land gates were examined, it is seen that the entrances of Southern Cyprus nationals were 196,428 and the entrances of other citizens of other countries were 110.803. In January 2025, the number of exit from the land gates of the TRNC citizens increased by 30.6 percent compared to the same period of 2024 and became 252,948.

-KKTC Inflation Developments

In the first quarter of 2025, inflation was 2.02 percent, 2.16 percent and 4.28 percent in January, February and March, respectively compared to the previous month. In the same period of 2024, monthly inflation was 3.84 percent, 4.59 percent and 6.91 percent, respectively. The average monthly inflation, which was 2.82 percent in the first quarter of 2025, was reached by 5.11 percent in the first quarter of 2024. Expenditure groups with the highest annual price increase in March 2025 are education with 105.61 percent, 72.70 percent and communication items with 68.94 percent. As of the end of March 2025, the lowest increase with 18.45 percent compared to the same period of the previous year was a pencil transport.

-Number of employees registered to Social insurance developments

As of October 2024, the number of employees registered to social insurances, which was 159.321, increased to 159,510 as of January 2025. Between October 2024 and January 2025, the number of insured employees increased by 0.1 percent to 82.711 and increased from 82.891 to 82.891. As of January 2025, 48 percent of the employees registered in social insurances are the citizens of the TRNC, 27.9 percent are citizens of the Republic of Turkey and 24.1 percent are the citizens of the other country, and as of 2024, the number of insured persons who are allowed to work exceeded the number of employees of the TRNC.

-KKTC budget developments

In the first quarter of the 2025 financial year, compared to the same period of the previous year, the total increase of the TRNC budget revenue was 65.4 percent and the total expense increased by 72.3 percent. Budget revenues and budget expenses were 25.457,8 and 23,750.2 million TL in the first quarter of 2025, respectively. In the first quarter of 2024, the budget, which gave an more than 1,607.3 million TL, gave TL 1.707.6 million TL in the same period of 2025. 20.3 percent of the total budget revenues of TL 75.616.8 million obtained in the whole year 2024 were collected within the first quarter. 19.9 percent of the budget revenues of TL 127.691.3 million, which are expected to obtain in the entire year 2025, were collected within the first quarter.

At the end of the first quarter of 2025, the total domestic debt stock formed by DİBS and KVA is TL 7.921.1 million. At the end of 2024, the total domestic debt stock formed by DİBS and KVA was 6,079.6 million TL. As of the end of the first quarter of 2025, DİBS stock is TL 4,861,3 million and the KVA balance is 3.059.8 million TL. As of the first quarter of 2025, the Turkish Lira Dibs stock is 970 million TL and all belongs to the Treasury. As of the first quarter of 2025, foreign currency DİBS stock; TL 3.702,5 Mion belongs to the Treasury, TL 143.1 million belongs to the Eastern Products Authority (TÜK) and TL 1.015.7 million to Eastern Mediterranean University (EMU). As of the first quarter of 2025, DİBS stock in foreign currency is at the level of USD 85.895,744 US dollars and 16,750,000 British pounds. ”