Report

Turkish Cypriot Economy, March 2021 : Impact of the COVID-19 Pandemic – A Path to Building Back Better

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collection.link.85
https://openknowledge.worldbank.org/handle/10986/2193
collection.name.85
Economic Updates and Modeling
dc.contributor.author
World Bank Group
dc.date.accessioned
2021-05-17T18:53:27Z
dc.date.available
2021-05-17T18:53:27Z
dc.date.issued
2021-03
dc.date.lastModified
2021-05-18T05:11:15Z
dc.description.abstract
The special topic of this edition of the Macroeconomic Monitoring report focuses on the TC administration’s ‘public’ financial support to the agriculture sector. Due to the Turkish lira depreciation, the recent adverse climate conditions, and exacerbated by the COVID-19 crisis, the agriculture sector suffered significantly in 2020. However, the severe impact on the sector was also the result of several long-standing inefficiencies and low productivity. Financial support from the central budget for agriculture comes at a significant fiscal cost to the overall TC economy, while at the same time agricultural productivity has been stagnating. The COVID-19 pandemic has served to exacerbate these existing challenges through disruptions along the food value chain. These problems have affected small-sized farmers the most, given that they are the most vulnerable to income shocks and higher retail prices. Reforming the subsidy system for agriculture could help generate greater fiscal space in the medium term, and also help foster economic diversification and enhance productivity.
en
dc.identifier
http://documents.worldbank.org/curated/en/774861620796239281/Turkish-Cypriot-Economy-Impact-of-the-COVID-19-Pandemic-A-Path-to-Building-Back-Better-Special-Issue-Improving-the-Effectiveness-of-Public-Funds-in-Agriculture
dc.identifier.uri
http://hdl.handle.net/10986/35588
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
ECONOMIC GROWTH
dc.subject
CURRENT ACCOUNT
dc.subject
FISCAL TRENDS
dc.subject
CORONAVIRUS
dc.subject
COVID-19
dc.subject
PANDEMIC IMPACT
dc.subject
POLICY RESPONSE
dc.subject
JOBS
dc.subject
ENTERPRISE SURVEY
dc.subject
INEQUALITY
dc.subject
ECONOMIC RECOVERY
dc.subject
AGRICULTURE
dc.subject
PUBLIC SUPPORT
dc.title
Turkish Cypriot Economy, March 2021
en
dc.title.subtitle
Impact of the COVID-19 Pandemic – A Path to Building Back Better
en
dc.type
Report
en
okr.date.disclosure
2021-05-12
okr.doctype
Economic & Sector Work
okr.doctype
Economic & Sector Work :: Economic Updates and Modeling
okr.docurl
http://documents.worldbank.org/curated/en/774861620796239281/Turkish-Cypriot-Economy-Impact-of-the-COVID-19-Pandemic-A-Path-to-Building-Back-Better-Special-Issue-Improving-the-Effectiveness-of-Public-Funds-in-Agriculture
okr.googlescholar.linkpresent
yes
okr.guid
774861620796239281
okr.identifier.externaldocumentum
090224b0885aa375_1_0
okr.identifier.internaldocumentum
33068418
okr.identifier.report
159010
okr.imported
true
en
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/774861620796239281/pdf/Turkish-Cypriot-Economy-Impact-of-the-COVID-19-Pandemic-A-Path-to-Building-Back-Better-Special-Issue-Improving-the-Effectiveness-of-Public-Funds-in-Agriculture.pdf
en
okr.region.administrative
Europe and Central Asia
okr.region.country
Cyprus
okr.theme
Public sector governance :: Public expenditure, financial management and procurement
okr.topic
Agriculture :: Agricultural Sector Economics
okr.topic
Health, Nutrition and Population :: Disease Control & Prevention
okr.topic
Macroeconomics and Economic Growth :: Business Cycles and Stabilization Policies
okr.topic
Macroeconomics and Economic Growth :: Economic Growth
okr.topic
Macroeconomics and Economic Growth :: Fiscal & Monetary Policy
okr.topic
Poverty Reduction :: Inequality
okr.topic
Social Protections and Labor :: Employment and Unemployment
okr.topic
Public Sector Development :: Public Sector Expenditure Policy
okr.unit
Macroeconomics, Trade and Investment Global Practice

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