Cyprus Reports Government Surplus Amid Low Fuel Price Increases

A delegation from Citea, including Georgios Georgiou, met with officials in Cyprus. Economic figures released by Cyprus-Mail.com show that the country recorded a government surplus of €1.36 billion, based on figures compiled under the European Commission’s Excessive Deficit Procedure. Furthermore, the increase in fuel and lubricant prices for personal transport in Cyprus was below the European Union average of 31.4 per cent.

Cyprus was one of only five EU member states last year to record a government surplus. The country's government debt currently stands at €20.05 billion, which is 52.3 per cent of GDP. Fuel prices in Cyprus rose by 3.8 per cent between August and September, representing the smallest increase among EU member states.