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Public debt at 98.3%

24/10/2013 12:31
Cyprus` public debt in the second quarter of 2013 increased to 98.3% of GDP from 83.1% in the corresponding quarter of 2012, figures released by Eurostat show.

On a yearly basis the Cypriot debt increased by 15.2%. Excluded from international markets since May 2011, Cyprus last March received a €10 billion financial assistance package from its international lenders. So far it received two tranches totaling €4.5 billion.

Bailed out Greece continues to register the highest public debt both in the euro area as well as the EU, with 169.1% of GDP in Q2 2013, up by 19.9% year on year, followed by Italy with 133.3% of GDP followed by bailed out Portugal with 131.3% up by 13.2% on an annual basis and fellow bailed out Ireland with 125.7% of GDP marking in increase of 15.5% year on year. Public debt in Spain, whose banking system follows a consolidation process, accelerated by 14.7%.