Cyprus remained the country with the highest stock of non-performing loans (assets) of general government in 2020, according to data released by Eurostat, the statistical office of the European Union.
The share of non-performing loans over the country’s GDP stood at 28.3%, a far larger share compared with other EU Member States according to Eurostat.
The statistical office of the EU points out that this large percentage is explained by “a large transaction in 2018, whereby non-performing loans from a Cypriot public financial corporation (classified outside government) were transferred to a government unit”.
The three other EU Member States that recorded a share higher than 1% of GDP were Slovenia (2.2%), Portugal (1.5%) and Croatia (1.4%).
For Cyprus, Slovenia and Portugal, the majority of non-performing loans refer to loan
Source: Cyprus News Agency