Cyprus growth at 8.4% last year

Cyprus’ gross domestic product at current prices for the year 2021 has been updated due to revised public finance and balance of payments data and is estimated at 23.437 billion euros, the Cyprus Statistical Service (CyStat) announced on Thursday.

The annual change at current prices is estimated at 8.4%.

CyStat also announced that in March 2022 the Harmonized Index of Consumer Prices increased by 6.2% when compared to the index of March 2021 while, when compared to the index of February 2021, the HICP increased by 1.8%.

For the period January-March 2022, the HICP recorded an increase of 5.7% compared to the corresponding period of the previous year.

It further reported a budget deficit of €389.1 million, which corresponded to 1.7% of the Cypriot GDP and a fiscal debt of €24.271 billion, which amounted to 103.6% of GDP.

CyStat noted that the budget figures are provisional.