Cyprus: Fiscal balance, percent of GDP

* indicates monthly or quarterly data series
 Cyprus

Fiscal balance, percent of GDP

 Latest value 2.1
 Year 2022
 Measure percent
 Data availability 1995 - 2022
 Average -2.71
 Min - Max -8.8 - 3.2
 Source Statistical Service of Cyprus
For that indicator, we provide data for Cyprus from 1995 to 2022. The average value for Cyprus during that period was -2.71 percent with a minimum of -8.8 percent in 2014 and a maximum of 3.2 percent in 2007. The latest value from 2022 is 2.1 percent. For comparison, the world average in 2022 based on 149 countries is -2.63 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Cyprus - Fiscal balance, percent of GDP - recent values

Historical chart
Cyprus - Fiscal balance, percent of GDP - historical chart - 1995-2022




Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.


 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 1.32 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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