Cyprus budget deficit declines to 5.3% in 2010

Cyprus’ budget deficit for 2010 declined to 5.3% of GDP from 6.0% in 2009, which in absolute numbers corresponds to 926 million euro, compared with 1.01 million in 2009.

Public debt in Cyprus in 2010 rose to 60.8% of GDP from 58.0% in 2009, which in absolute numbers corresponds to 10.62 million euro compared with 9.83 million euro in 2009.

According to Eurostat figures, Cypriot state revenue for 2010 increased to 41.3% of GDP compared to 39.8% in 2009. State expenditure also rose to 46.6% of GDP in 2010 compared to 39.8% in 2009.

Average budget deficit in the Eurozone (EU17) for 2010 declined to 6.0% GDP compared with 6.3% in 2009, while Eurozone public debt accelerated to 85.1% GDP compared to 79.3% in 2009.