22/07/2013 13:30
Government debt in Cyprus recorded the fifth highest annual increase in EU27 in the first quarter of 2013, climbing to 86.9% of GDP.
Compared to the first quarter of 2012, the island’s public debt increased by 12.6% percentage points, possibly because of the bond issue of €1,8 billion for the recapitalization of Cyprus Popular Bank.
The highest increase in debt compared to the same quarter last year was registered in Greece with an increase of 24.1%, Ireland with an increase of 18.3%, Spain 15.2%, and Portugal 14.9%.
According to Eurostat data, the government debt of Cyprus increased by 1.1 percentage points compared to the fourth quarter of 2012.
In the fourth quarter of 2012, Cyprus's government debt rose to 85.8%, while in the first quarter of 2012 to 74.3%.
The Greek debt reached 160.5% of GDP from 156.9% in the fourth quarter of 2012.
At the end of the first quarter of 2013, the government debt to GDP ratio in the euro area stood at 92.2%, compared with 90.6% at the end of the fourth quarter of 2012.
In the EU27 the ratio increased from 85.2% to 85.9%.
The highest ratios of government debt to GDP at the end of the first quarter of 2013 were recorded in Greece (160.5%), Italy (130.3%), Portugal (127.2%) and Ireland (125.1%), and the lowest in Estonia (10.0%), Bulgaria (18.0%) and Luxembourg (22.4%).
Compared with the fourth quarter of 2012, twenty-one Member States registered an increase in their debt to GDP ratio at the end of the first quarter of 2013, and six a decrease.
Compared to the first quarter of 2012, the island’s public debt increased by 12.6% percentage points, possibly because of the bond issue of €1,8 billion for the recapitalization of Cyprus Popular Bank.
The highest increase in debt compared to the same quarter last year was registered in Greece with an increase of 24.1%, Ireland with an increase of 18.3%, Spain 15.2%, and Portugal 14.9%.
According to Eurostat data, the government debt of Cyprus increased by 1.1 percentage points compared to the fourth quarter of 2012.
In the fourth quarter of 2012, Cyprus's government debt rose to 85.8%, while in the first quarter of 2012 to 74.3%.
The Greek debt reached 160.5% of GDP from 156.9% in the fourth quarter of 2012.
At the end of the first quarter of 2013, the government debt to GDP ratio in the euro area stood at 92.2%, compared with 90.6% at the end of the fourth quarter of 2012.
In the EU27 the ratio increased from 85.2% to 85.9%.
The highest ratios of government debt to GDP at the end of the first quarter of 2013 were recorded in Greece (160.5%), Italy (130.3%), Portugal (127.2%) and Ireland (125.1%), and the lowest in Estonia (10.0%), Bulgaria (18.0%) and Luxembourg (22.4%).
Compared with the fourth quarter of 2012, twenty-one Member States registered an increase in their debt to GDP ratio at the end of the first quarter of 2013, and six a decrease.
