Cyprus Mail

Q1 current account flips to a €721m gap, central bank says

The Central Bank of Cyprus said that Cyprus’s current account deficit posted a €721.1m deficit in the first three months of the year compared to a surplus of €73.2m in the respective quarter of 2016.

Cyprus’s international investment position deteriorated slightly in the first quarter to minus €23.1bn from minus €22.5bn in January to March 2016, the central bank said in a statement on its website on Monday.

Cyprus’s external debt rose in the first quarter to €108.3bn from 106.9bn the respective quarter of 2016, the central bank said.

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