Fiscal Balance in Cyprus
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 |
Cyprus Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Cyprus: Industrial output quickens in final month of 2019
February 27, 2020
Industrial production climbed 2.6% year-on-year in December 2019, up markedly from November’s 0.4% increase.
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Cyprus: Growth wanes in Q4 2019
February 14, 2020
Annual growth ebbed to 3.2% in the fourth quarter of 2019 from 3.5% in the previous quarter.
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Cyprus: Inflation climbs to nine-month high in January
February 6, 2020
Consumer prices fell 0.6% from the previous month in January, following December’s 0.2% month-on-month dip.
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Cyprus: Industrial output cools in November
January 30, 2020
Industrial production rose 0.9% year-on-year in November 2019, halving from October’s 1.8% increase.
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Cyprus: Consumer prices, on an annual basis, return to growth after six consecutive months of decline in December
January 3, 2020
Consumer prices fell 0.2% from the previous month in December, contrasting November’s 0.3% month-on-month increase.
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