Cyprus debt to GDP ratio drops to 109% in Q2 2016

Cyprus debt to GDP ratio has dropped further by -0.3 points, to 109%, in the second quarter of 2016, according to Eurostat. The difference since the same period of 2015 is -1,8 points.

In absolute terms, the public debt deescalated from 19.266 billion in Q2 2015 to 19.046 billion in Q1 2016 and further to 19.044 billion in Q2 2016 and from 110.7% to 109.3% and 109.0% respectively. Its basic components have been debt securities, 33.7 percentage points and loans 75.2.

Meanwhile, at the end of the second quarter of 2016, the government debt to GDP ratio in the euro area (EA19) stood at 91.2%, compared with 91.3% at the end of the first quarter of 2016. In the EU28, the ratio decreased from 84.5% to 84.3%. Compared with the second quarter of 2015, the government debt to GDP ratio fell in both the euro area (from 92.1% to 91.2%) and the EU28 (from 87.5% to 84.3%.

Source: Cyprus News Agency.