Public dept in Cyprus rises to 20 932 billion euro in Q2 2018, according to ?urostat

Public dept in Cyrpus increased from Euros 19,855 billion euro in Q2 2017 and Euros 18,531 billion in Q1 2018 to Euros 20,932 billion in Q2 2018, according to data released today by Eurostat.

This corresponds to a 104.4% of GDP in Q2 2017, 93.4% in Q1 2018 and 104% in Q2 2018, or -0.3 pp annually and +10.6 pp quarterly.

At the end of the second quarter of 2018, the government debt to GDP ratio in the euro area (EA19) stood at 86.3%, compared with 86.9% at the end of the first quarter of 2018. In the EU28, the ratio decreased from 81.5% to 81.0%. Compared with the second quarter of 2017, the government debt to GDP ratio fell in both the euro area (from 89.2% to 86.3%) and the EU28 (from 83.4% to 81.0%). At the end of the second quarter of 2018, debt securities accounted for 81.1% of euro area and for 81.9% of EU28 general government debt. Loans made up 15.9% and 14.0% respectively and currency and deposits represented 3.0% of euro area and 4.1% of EU28 government debt.

The highest ratios of government debt to GDP at the end of the second quarter of 2018 were recorded in Greece (179.7%), Italy (133.1%) and Portugal (124.9%), and the lowest in Estonia (8.3%), Luxembourg (22.0%) and Bulgaria (23.8%).

Compared with the first quarter of 2018, six Member States registered an increase in their debt to GDP ratio at the end of the second quarter of 2018, twenty-one a decrease and the ratio remained stable in Sweden. The highest increases in the ratio were recorded in Cyprus (+10.6 percentage points � pp), Latvia (+1.4 pp), the United Kingdom (+1.1 pp) and Slovakia (+1.0 pp). The largest decreases were recorded in Slovenia (-2.8 pp), Germany (-1.2 pp), the Netherlands (-1.1 pp) and Lithuania (-1.0 pp).

Compared with the second quarter of 2017, three Member States registered an increase in their debt to GDP ratio at the end of the second quarter of 2018, and twenty-five a decrease. An increase in the ratio was recorded in Greece (+3.5 pp), the United Kingdom (+0.3 pp) and Slovakia (+0.1 pp), while the largest decreases were recorded in Slovenia (-7.4 pp), Lithuania (-6.5 pp), Ireland (-6.4 pp), Portugal (-5.9 pp) and Malta (-5.5 pp).

Source: Cyprus News Agency