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Fiscal deficit at 5.7% and public debt at 115.3% of GDP in 2020

25/10/2021 10:05

Cyprus’ fiscal deficit amounted to 5.7% of GDP while the island’s public debt rose to 115.3% of GDP in 2020, a year marked by the downturn caused by the Covid pandemic.

The Statistical Service of Cyprus (Cystat) announced the fiscal results for 2020, as audited and verified within the Excessive Deficit Procedure framework of the European Commission.

“The results for 2020 indicate a fiscal deficit of €1,232.6 million, which corresponds to 5.7% of GDP and a fiscal debt of €24,85211 mn, which corresponds to 115.3% of GDP,” Cystat added.