Cyprus Mail

Government generates €944m surplus in first nine months  

The government has generated a €944m surplus in the first nine months of the year, the highest in the EU and a large safety cushion, Finance Minister Harris Georgiades said on Thursday.

The surplus represents 4.3 per cent of GDP. In the same period last year, Cyprus recorded a €955.3m deficit, or 4.5 per cent of GDP, which represented the cost of the state’s agreement with Hellenic Bank for the sale of the co-op bank.

In a tweet, Georgiades said the surplus “is the highest in the EU and it constitutes a sound safety margin that we must manage responsibly.”

It “comes after a series of incentives that boosted growth,” the minister said

Related posts

FinMin to present state budget to MPs on Monday

Have you done your home work?

CM Guest Columnist

AmEx issues dismal outlook on business travel spending as profit slumps

Reuters News Service

Hacking for catastrophic damage; US sanctions Russian Institute

Reuters News Service

Beyond Brexit: The euro and the pound

Andrew Rosenbaum

Your money, and how you sleep at night

Andrew Rosenbaum