Gross debt in Cyprus

The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. On the other hand not included in the gross debt are the demands of a country to foreign ones.

The gross debt in Cyprus in the period from 1998 to 2016 was between 4.3 billion and 19.3 billion Euro. The highest level of the last years at 19.30 billion Euro was reached in 2016.

Based on the number of inhabitants, this is in Cyprus a debt of 16,492 Euro per person. For comparison: The average debt per person in the same year in the European Union was 24,154 Euro.


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Gross debt of the past 18 years in billion Euro




JahrCyprus totalEuropean Union totalCyprus per capitaEuropean Union per capita
19984.35 bn €542.28 bn €3,715 €10,602 €
19994.76 bn €564.55 bn €4,070 €11,037 €
20005.93 bn €569.72 bn €5,069 €11,138 €
20016.57 bn €585.17 bn €5,613 €11,440 €
20027.25 bn €601.06 bn €6,193 €11,751 €
20038.09 bn €626.46 bn €6,917 €12,248 €
20048.96 bn €673.97 bn €7,660 €13,176 €
20059.50 bn €711.45 bn €8,121 €13,909 €
20069.50 bn €735.37 bn €8,123 €14,377 €
20079.37 bn €745.65 bn €8,008 €14,578 €
20088.49 bn €791.13 bn €7,258 €15,467 €
20099.96 bn €893.39 bn €8,516 €17,466 €
201010.77 bn €1,002.08 bn €9,204 €19,591 €
201112.87 bn €1,067.22 bn €10,998 €20,865 €
201215.43 bn €1,124.02 bn €13,186 €21,975 €
201318.52 bn €1,158.25 bn €15,823 €22,644 €
201418.82 bn €1,210.59 bn €16,082 €23,668 €
201518.96 bn €1,246.05 bn €16,204 €24,361 €
201619.30 bn €1,235.46 bn €16,492 €24,154 €


Comparison of the gross debt per capita with the European Union in Euro



      Cyprus       European Union


Budget deficit in Cyprus

The budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurances, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money, than at at the beginning, it is a surplus - it is less, it is called deficit.

The budget balance in Cyprus in the period between 1998 and 2016 was from -1.54 billion Euro to +566.10 million Euro. In 2016 was reached a balance of 64.40 million Euro.

In ratio to population, this equals a surplus of 55 Euro per capita in Cyprus. For comparison, the average debt per capita in the European Union was in the same year at 490 Euro.


Budget deficit and surplus in the last 18 years

JahrCyprus totalEuropean Union totalCyprus per capitaEuropean Union per capita
1998-352.10 M €-153,235.20 M €-301 €-300 €
1999-396.20 M €-82,111.40 M €-339 €-161 €
2000-233.20 M €52,063.70 M €-199 €102 €
2001-240.90 M €-143,516.40 M €-206 €-281 €
2002-492.00 M €-257,294.80 M €-420 €-503 €
2003-764.70 M €-321,165.40 M €-654 €-628 €
2004-513.20 M €-320,906.80 M €-439 €-627 €
2005-325.80 M €-287,691.80 M €-278 €-562 €
2006-166.90 M €-196,784.20 M €-143 €-385 €
2007566.10 M €-112,224.80 M €484 €-219 €
2008164.60 M €-323,256.60 M €141 €-632 €
2009-1,014.70 M €-810,851.00 M €-867 €-1,585 €
2010-911.60 M €-817,350.50 M €-779 €-1,598 €
2011-1,122.10 M €-597,069.30 M €-959 €-1,167 €
2012-1,084.30 M €-569,452.30 M €-927 €-1,113 €
2013-932.70 M €-445,147.00 M €-797 €-870 €
2014-1,541.20 M €-416,108.70 M €-1,317 €-814 €
2015-208.90 M €-347,783.80 M €-179 €-680 €
201664.40 M €-250,774.60 M €55 €-490 €

(negative numbers = deficit)