Cyprus records second-largest public debt reduction in Europe for Q1 2026

According to data released by Eurostat on July 21, 2026, Cyprus achieved the second-largest annual reduction in public debt across Europe during the first quarter of 2026. The national debt decreased to 54.6% of the country's GDP, down from 55% in the fourth quarter of 2025 and 61.9% in the first quarter of 2025. In absolute terms, the debt fell to €20 billion, compared to €20.1 billion in the previous quarter and €21.8 billion a year earlier. Simultaneously, the Statistical Service of Cyprus reported preliminary fiscal results for the period of January to March 2026. These figures indicate a general government surplus of €567.1 million. This result marks a slight decrease from the €600.6 million surplus recorded during the same period in 2025. These indicators reflect the ongoing fiscal consolidation efforts within the Cypriot economy.