Cyprus records EU’s biggest quarterly fall in government debt ratio

Cyprus recorded the largest quarterly reduction in its government debt-to-GDP ratio across the European Union during the second quarter of 2026. Data from Eurostat indicates the ratio fell by 3 percentage points to 48.5 per cent, bringing the total gross debt to €19.2 billion. While many EU member states saw their debt ratios increase during this period, Cyprus continues to show significant progress in lowering its debt burden relative to the size of its economy.