Fiscal Balance in Cyprus

Cyprus Fiscal Balance | Economic News & Forecasts

Cyprus - Fiscal Balance

Incoming data suggests that solid growth was sustained in the last quarter of 2019, after it quickened in the third quarter on the back of a rebound in exports. Business confidence strengthened significantly in the fourth quarter. Furthermore, retail sales increased the most in nearly two years in November, bringing average growth for October–November well above that of Q3, which hints that household spending remained the main driver of activity in the final stretch of 2019. In addition, merchandise exports recovered strongly in November and tourist arrivals gathered pace in Q4, indicating that the external sector supported overall growth. In other news, recently released Central Bank data showed that non-performing facilities amounted to EUR 9.7 billion in August 2019, representing 29.3% of total loans. Although gradually declining, the country’s NPL ratio remains the second highest in the EU.

Cyprus - Fiscal Balance Data

2014   2015   2016   2017   2018  
Fiscal Balance (% of GDP)-9.0  -1.0  0.1  1.7  -4.4  

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Cyprus Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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