Q2 2017 current account deficit shrinks to €7.4m

The Cypriot economy generated a €7.4m current account deficit in the second quarter of 2017 compared with a deficit of €472.2m in the respective period last year and €718.8m in January to March, the Central Bank of Cyprus said.

Cyprus’ international investment position, which is the difference between assets and liabilities against the rest of the world, improved to minus €23.6bn in April to June from minus €23.9bn in the quarter before and €24.4bn at the end of the second quarter of last year, the central bank said in a statement on its website on Friday.

The economy’s external debt rose in the second quarter by €234.8m to €108.8m in the second quarter and by €6.2bn compared to a year before, the central bank said.

Source: Cyprus Mail