Nicosia: The current account balance and the international investment position (IIP) of Cyprus recorded an improvement, while its gross external debt decreased in the second quarter of 2025 (Q2 2025), according to provisional data for external statistics for Q2 2025, released by the Statistics Department of the Central Bank of Cyprus on Wednesday.
According to Cyprus News Agency, the current account balance of Cyprus recorded an improvement, with the deficit decreasing from £341.7 million in Q2 2024 to £257.3 million in Q2 2025. The resulting deficit adjusted for the impact of Special Purpose Entities (SPEs), that is, classifying SPEs as non-residents, stood at £280.9 million in Q2 2025, compared with a deficit of £363.6 million in Q2 2024.
The international investment position (IIP) recorded an improvement in Q2 2025, presenting a net liability position of £30,094.9 million, compared with a net liability position of £30,420.9 million in Q1 2025. With the corresponding data being adjusted for the impact of SPEs, IIP recorded a net liability position of £11,480.9 million in Q2 2025, compared with a net liability position of £11,871.7 million in Q1 2025.
The gross external debt decreased to £232,988.2 million in Q2 2025 from £233,599.8 million in Q1 2025. The external assets in debt instruments decreased to £223,083.6 million, from £223,482.2 million in Q1 2025. Consequently, the net external debt decreased by £213.0 million to £9,904.6 million in Q2 2025. Adjusted for the impact of SPEs, gross external debt reached £59,044.1 million in Q2 2025, compared to £59,569.7 million in Q1 2025. The corresponding net external debt indicator decreased to -£24,313.4 million in Q2 2025, compared with -£23,924.4 million in Q1 2025.