Business Groups Protest Against Rising Costs at Customs

The joint statement was signed by the Turkish Cypriot Chamber of Commerce, the Turkish Cypriot Association of Entrepreneurial Women, the Turkish Cypriot Businessmen’s Association, the Women Entrepreneurs’ Association, and other prominent business associations. They cited rising costs as a severe threat to both households and businesses, stating, "High prices have eroded our competitiveness, making life unbearable and business operations unsustainable. This is a social duty we must undertake."

The statement criticized the lack of effective government action, calling it a “price spiral” and urging the government to tackle the root causes by subsidizing essential utilities and goods temporarily, along with implementing fiscal reforms to curb waste and reduce informality in the public sector.

The business leaders warned of continued actions if today’s protest goes unheeded, inviting the government to lead the fight against rising costs, expressing confidence that, with public support, they can achieve success.

KTTO President Turgay Deniz addressed demonstrators outside the Nicosia Customs Directorate, expressing sorrow over the recent neonatal tragedy at a local hospital and calling for a government focused on merit-based management and systemic reform. Deniz emphasized that rising costs have devastated the economy, diminishing competitiveness and creating a “vortex of rising prices.”

The statement urged the government to take immediate action by subsidizing basic goods like electricity, gas, and essential food items to alleviate pressure on households and businesses. Deniz warned that failure to address the issue would lead to further closures, increased hardship for families, and an exodus of young people abroad.

“This demonstration is a warning,” Deniz said. “If ignored, the impact of inflation will escalate. We will not hesitate to pursue further actions until the government steps up to lead this fight, backed by the strength of our people.”