Public Debt in Cyprus
Cyprus - Public DebtA flash estimate revealed that GDP grew 0.7% quarter-on-quarter in Q1, an identical pace to Q4 2021. While a detailed breakdown is not yet available, the services sector likely supported activity thanks to lower unemployment and reduced Covid-19 restrictions. Moreover, industrial output gained steam in January–February in annual terms. Turning to Q2, momentum is likely easing as food and energy price hikes due to the Ukraine War take their toll. Business and consumer confidence plummeted in April, boding poorly for consumption and private investment in the second quarter. While the recent lifting of all remaining travel restrictions will benefit the tourism sector, the reliance on Russian tourists will prevent the sector’s full recovery. Finally, in May the EU Commission recommended focusing on reducing non-performing loans and mitigating climate change risks.
Cyprus - Public Debt Data
|Public Debt (% of GDP)||108||103||93.9||101||95.5|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||1.12||0.65 %||Dec 31|
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December 1, 2022
GDP growth waned to 5.5% year on year in the third quarter, from 5.9% in the second quarter.
November 29, 2022
Industrial output grew 1.1% year on year in September (August: -1.9% yoy).
November 17, 2022
Harmonized inflation eased to 8.6% in October from September’s 9.0%.
November 15, 2022
According to a preliminary reading, GDP growth lost steam, falling to 5.5% year on year in the third quarter, from 5.9% in the second quarter.
October 28, 2022
Industrial output slid 1.7% compared to the same month of the previous year in August, which was a larger contraction than July's 0.5% decrease.