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    25 January 2018

    Cyprus has largest annual decrease in public debt in the EU28 for Q3 2017

    Cyprus has largest annual decrease in public debt in the EU28 for Q3 2017

    Cyprus had the second largest debt decrease in quarterly basis (-2.9 pp) and the largest decrease in annual basis (-7.4 pp), among EU 28 countries, according to Eurostat data released.

    More specifically in Q3 2017 Cyprus debt was 103.2% compared with 106.1% in Q2 2017 and 110.6% in Q3 2016.

    At the end of the third quarter of 2017, the government debt to GDP ratio in the euro area (EA19) stood at 88.1%, compared with 89.0% at the end of the second quarter of 2017. In the EU28, the ratio also decreased from 83.3% to 82.5%.

    Compared with the third quarter of 2016, the government debt to GDP ratio fell in both the euro area (from 89.7% to 88.1%) and the EU28 (from 82.9% to 82.5%).

    The highest ratios of government debt to GDP at the end of the third quarter of 2017 were recorded in Greece (177.4%), Italy (134.1%) and Portugal (130.8%).

    Source: CNA

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