Cyprus 2009 public deficit at 6% of GDP, public debt at 58%

In 2009 public deficit in Cyprus reached 6% of GDP, while public debt was recorded at 58% of GDP.

A Eurostat press release published Friday refers to the second notification of government deficit and debt figures for 2009 for 26 EU member states. The first notification was published in April.

In 2008, Cyprus had recorded a surplus of 0.9% and total public debt of 48.3% of GDP.

A worsening in public deficit of all Eurozone member states was recorded due to the world financial crisis and the subsequent recession.

In 2009 Cyprus also recorded state revenue at 39.8% of GDP (43.4% in 2008), whilst public expenditure reached 45.8% of GDP (42.5% in 2008).