articles | 06 July 2016

Cyprus current account improves in Q1 2016

The current account recorded a significant improvement in Q1 2016, as its deficit fell to €39.1 million compared with a deficit of €643.7 million in Q1 2015, according to the latest provisional balance of payments data.

According to an announcement of the Central Bank of Cyprus, the international investment position of Cyprus also recorded an improvement in Q1 2016, reaching a net liability position of €21.087 million compared with €22.507 million in Q4 2015.

The external debt of Cyprus amounted to €101.709 million in 2016Q1 compared with €102.488 million in Q4 2015.

Source: Famagusta Gazette

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