Last year’s growth rate in Cyprus amounted to 3.9% in real terms, according to a revised estimate published on Monday by the Cyprus Statistical Service. At current prices, the percentage change in gross domestic product amounted to 7.2%.
According to CyStat, the positive growth rate is mainly attributed to the sectors: information and communication; hotels and restaurants; construction and wholesale and retail trade; and repair of motor vehicles and motorcycles. GDP in real terms in 2024 stood at 29.42 billion euros. In current prices, GDP was at €34.77 billion.
The final budget results for 2024, audited and verified within the Excessive Deficit Procedure framework of the European Commission, indicate a fiscal surplus of €1.44 billion, which corresponds to 4.1% of GDP, and a fiscal debt of €21.83 billion, equal to 62.8% of GDP, CyStat said.
As for this year’s budget, the provisional general government fiscal results by CyStat, published on Tuesday, showed a surplus of €0.6 million for April-June 2025. Total revenue increased by €307.8 million (9.5%) and amounted to €3.54 billion, against €3.24 billion a year earlier.
