IMF expects Cyprus public debt to grow in 2017

International Monetary Fund (IMF) expects Cyprus public debt to grow to 109.3% of GDP in 2017 compared to 108% in 2016, according to its Fiscal Monitor for April 2017 issued yesterday. According to IMF projections, Cyprus General Government gross debt is not expected to fall below 100% before 2020, adopting a more conservative approach in relation to October 2016 when IMF projected that Cyprus debt would have fallen to 97.9% in 2019. IMF considers that the ratio of government debt to GDP in Cyprus was at 108% in 2016, and will increase to 109.3% in 2017. Thereafter will decrease to 107.4% in 2018, to 100.5% in 2019, to 95% in 2020, to 91.6% in 2021 and to 86.7% in 2022.

Source: Cyprus News Agency