WThe economy of Northern Cyprus is dominated by the services sector, which includes the public sector, trade, tourism and education. Industry contributes 22% of GDP and agriculture 9%. Northern Cyprus's economy operates on a free-market basis, with a significant portion of administration costs funded by Turkey. Northern Cyprus uses the Turkish lira as its currency, which links its economic situation to the economy of Turkey.
WBedrettin Demirel Avenue is an avenue in North Nicosia. It is one of the busiest avenues in the northern part of the city.
WDereboyu Avenue, also known simply as Dereboyu and officially as Mehmet Akif Avenue, is the busiest avenue in North Nicosia, as well as its centre of entertainment. The term "Dereboyu" means "alongside the river", and although in the traditional sense this is only used for Mehmet Akif Avenue running alongside the Pedieos river, the term has expanded in meaning to denote a region extending to the neighbouring Osman Paşa Avenue.
WAn international embargo against Northern Cyprus is currently in place in several areas. The embargo is supported by the policy of the United Nations and its application by the European Union is in line with a European Court of Justice (ECJ) decision taken in 1994.
WThe new Turkish lira was the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus between 1 January 2005 and 31 December 2008 which was a transition period for the removal of six zeroes from the currency. The new lira was subdivided into 100 new kurush. The symbol was YTL and the ISO 4217 code was TRY.
WTurkish Cypriots first issued revenue stamps in 1962 as part of Cyprus; after 1983 of the UDI of Northern Cyprus, the country has continued to issue the stamps to this day.
WTourism has affected the development of Northern Cyprus. Its share of the GDP of Northern Cyprus is significant.
WThe Turkish lira is the currency of Turkey and Turkish Republic of Northern Cyprus. One Turkish lira is subdivided into one hundred kuruş.