Politis

Cyprus: The Third Largest Reduction in Public Debt in the EU

Published January 22, 2026, 11:29
Cyprus: The Third Largest Reduction in Public Debt in the EU

Cyprus recorded the third largest reduction in public debt in the European Union in the third quarter of 2023, according to Eurostat data. Public debt decreased to 60.6% of GDP, from 61.4% in the second quarter of 2023 and 66.7% in the third quarter of 2022. Greece and Ireland recorded larger decreases, while Romania, Poland, Finland, Bulgaria and France saw the largest increases. The highest public debt ratios remain in Greece, Italy, France, Belgium and Spain, while the lowest are in Estonia, Luxembourg, Bulgaria and Denmark. At the same time, Cyprus' fiscal surplus decreased to 2.4% of GDP, from 2.5% in the second quarter and 4.9% in the third quarter of 2022.