Fiscal Balance in Cyprus

Cyprus Fiscal Balance | Economic News & Forecasts

Cyprus - Fiscal Balance

A second release confirmed that GDP growth cooled in the third quarter, on the heels of moderating domestic activity. Household and public spending expanded at a slower pace, while capital spending contracted compared to the prior quarter. Meanwhile, exports of goods and services gained traction in the period, largely on rising numbers of tourist arrivals and easing Covid-19 cases domestically and in the region. Turning to Q4, household spending has likely waned further in the final stretch of the year, as suggested by a rising unemployment rate in October and deteriorating consumer sentiment in October–November. On top of this, elevated price pressures and tighter Covid-19 curbs from mid-December, amid rising new cases, will have also weighed on domestic activity. More positively, surging merchandise export growth in October—the joint highest in nearly three years—bodes well for the external sector.

Cyprus - Fiscal Balance Data

2015   2016   2017   2018   2019  
Fiscal Balance (% of GDP)-1.0  0.3  2.0  -3.7  1.7  

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Cyprus Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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