Cyprus’ public debt stood at 55.0% of GDP at the end of the fourth quarter of 2025, according to data published by Eurostat, recording a decline on both a quarterly and annual basis. At the same time, Cyprus is among the EU Member States with the largest reductions in the debt ratio, both quarter-on-quarter and year-on-year.
More specifically, Cyprus’ public debt amounted to €20.078 billion, compared with €21.696 billion in the third quarter of 2025 and €21.814 billion in the fourth quarter of 2024. In terms of GDP, this corresponds to a decrease of 5.3 percentage points compared with the previous quarter and 7.7 percentage points compared with the same quarter of the previous year.
At European Union level, the general government gross debt-to-GDP ratio stood at 81.7% at the end of the fourth quarter of 2025, down from 82.0% in the previous quarter. In the euro area, the ratio fell to 87.8%, from 88.4% in the third quarter of 2025.
On an annual basis, however, an increase was recorded in both the EU and the euro area. In the EU, the ratio rose from 80.7% to 81.7%, while in the euro area it increased from 87.0% to 87.8%.
At the end of 2025, the highest government debt-to-GDP ratios were recorded in Greece (146.1%), Italy (137.1%), France (115.6%), Belgium (107.9%) and Spain (100.7%). In contrast, the lowest ratios were recorded in Estonia (24.1%), Luxembourg (26.5%), Denmark (27.9%) and Bulgaria (29.9%).
In quarterly comparison, twelve EU Member States recorded an increase in their debt-to-GDP ratio, fourteen recorded a decrease, and one remained stable. The largest increases were observed in Latvia and the Netherlands (2.1%), Sweden (1.9%), Poland (1.8%), Finland (1.6%) and Bulgaria (1.5%).
Conversely, the largest decreases were recorded in Portugal (7.8%), Cyprus (5.3%), Greece (3.6%) and Spain (2.5%).
On an annual basis, nineteen Member States recorded an increase and eight a decrease in their debt-to-GDP ratio. The largest increases were observed in Finland (6.2%), Bulgaria (6.0%), Poland (4.8%), Romania (4.5%), Belgium (3.9%), France (2.9%) and Italy (2.4%).
At the other end of the spectrum, the largest declines were recorded in Greece (-8.0%), Cyprus (-7.7%), Ireland (-5.4%), Portugal (-3.8%) and Denmark (-2.6%).
(Source: CNA)
