Cyprus: Government debt

* indicates monthly or quarterly data series
 Cyprus

Government debt as percent of GDP

 Latest value 86.5
 Year 2022
 Measure percent
 Data availability 1995 - 2022
 Average 73.32
 Min - Max 45.5 - 113.8
 Source Eurostat
For that indicator, we provide data for Cyprus from 1995 to 2022. The average value for Cyprus during that period was 73.32 percent with a minimum of 45.5 percent in 2008 and a maximum of 113.8 percent in 2020. The latest value from 2022 is 86.5 percent. For comparison, the world average in 2022 based on 146 countries is 62.03 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series


Recent values chart
Cyprus - Government debt - recent values

Historical chart
Cyprus - Government debt - historical chart - 1995-2022




The government debt in Cyprus and other countries is calculated as the total amount owed by the national government to domestic and international lenders. It is reported as percent of GDP so that we can evaluate its magnitude relative to the size of the economy.

Government debt of about 60 percent or less of GDP is not considered a problem. The government can make payments without strain and even has some room to borrow more. If debt levels reach 80-90 percent that may have negative effects on the economy. Debt above 120 percent of GDP is quite detrimental.
Definition: Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.


 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 18.48 2022 percent
 Government spending, in dollars 5.40 2022 billion U.S. dollars
 Fiscal balance, percent of GDP 2.10 2022 percent
 Government debt 86.50 2022 percent
 Government expenditure 1.34 Q3/2023 billion
 Tax revenue 23.23 2021 percent
 Commercial tax rate 22.40 2019 percent
 Tax preparation time 120 2019 hours
 Number of taxes 16 2019 taxes
 Taxes on goods and services 31.65 2021 percent
 Taxes on international trade 0.16 2021 percent
 Income and profits taxes 25.12 2021 percent
 Foreign aid 59.86 2004 million U.S. dollars
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