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Government surplus 3,0% of GDP excluding Hellenic Bank deal

21/10/2019 16:47

The fiscal balance for 2018 records a surplus of €638,3 mn or 3,0% of GDP, excluding the burden of the Cyprus Central Bank – Hellenic Bank deal, according to the final fiscal results announced today by the Statistical Service.

The results have been audited and verified within the Excessive Deficit Procedure framework of the European Commission.

The results for 2018 indicate a fiscal deficit of €925,9 mn, which corresponds to 4,4% of GDP, and a fiscal debt of €21.256,3 mn, which corresponds to 100,6% of GDP.

These results include the one-off expenditure valued at €1.564,2 mn that concerns the Cyprus Central Bank – Hellenic Bank deal.

CYSTAT also announces the completion of the major revision in National Accounts data series (Annual and Quarterly) according to the Harmonised European Revision Policy and the National Revision Policy. More information is available in the Explanatory Note.