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