Cyprus’ general government gross debt-to-GDP ratio increased by 2.2 percentage points (pp) to 85.3% in the second quarter of 2023, compared with the previous three months, the largest quarterly increase by an
Cyprus’ Fiscal Council, advising the government on economic policies, is worried that borrowing from the Social Insurance Fund has reached a “tipping point” threatening to derail public finances. In a note to
Private debt in Cyprus (households and non-financial corporations) was 218% of GDP in the first quarter of 2023, with debt in absolute numbers totalling €60.1 bln, the Central Bank of Cyprus (CBC)
Cyprus football giants APOEL Nicosia needs a rich investor to dig them out from the crushing weight of over €30 mln accumulated debt to return to the glory days. During the Annual
The largest proportion of general government gross debt held by non-residents was recorded in Cyprus (93%) in 2022, compared to EU countries for which data are available, according to Eurostat. After Cyprus, the
Cyprus’ central government debt dropped to €23 bln, marking a reduction of 3.9% year on year, according to the Public Debt Management Office (PDMO). Government debt is over 99% of total debt,
Household debt reached €20 bln, equivalent to 77% of Gross Domestic Product in Q3 2022, marking a slight decrease compared to the previous quarter due to the increase in GDP, according to
Cyprus Central Bank governor Constantinos Herodotou called for awareness over rising private debt as the economic outlook deteriorates due to the prolonged Russian invasion of Ukraine. Herodotou called for increased vigilance to
Debt restructuring declined to €545 mln in the first six months, with loan renegotiations slowing following a record year due to the pandemic as non-performing loans declined to their lowest point since
Debt held by households and non-financial corporations in the first quarter of 2022 amounted to €56.2 bln, according to the Central Bank of Cyprus. Household debt in Q1 was €20.2 billion, corresponding
