The difference compared to the same period of 2015 is -1.8%.
In absolute terms, the public debt deescalated from 19.266 billion in Q2 2015 to 19.046 billion in Q1 2016 and further to 19.044 billion in Q2 2016 and from 110.7% to 109.3% and 109.0% respectively. Its basic components have been debt securities (33.7%) and loans (75.2%).
Meanwhile, at the end of the second quarter of 2016, the government debt to GDP ratio in the euro area (EA19) stood at 91.2%, compared with 91.3% at the end of the first quarter of 2016. In the EU28, the ratio decreased from 84.5% to 84.3%. Compared with the second quarter of 2015, the government debt to GDP ratio fell in both the euro area (from 92.1% to 91.2%) and the EU28 (from 87.5% to 84.3%). At the end of the second quarter of 2016, debt securities accounted for 79.5% of euro area and for 81.0% of EU28 general government debt. Loans made up 17.5% and 15.2% respectively and currency and deposits represented 2.9% of euro area and 3.9% of EU28 government debt.
The highest ratios of government debt to GDP at the end of the second quarter of 2016 were recorded in Greece (179.2%), Italy (135.5%) and Portugal (131.7%), and the lowest in Estonia (9.7%), Luxembourg (22.0%) and Bulgaria (29.4%).
Compared with the first quarter of 2016, thirteen Member States registered an increase in their debt to GDP ratio at the end of the second quarter of 2016 and fifteen a decrease. The highest increases in the ratio were recorded in Greece (+3.1%), Portugal (+2.8%) and Latvia (+2.6%). The largest decreases were recorded in Finland (-2.7%), Ireland (-2.6%) and Hungary (-1.6%).
Compared with the second quarter of 2015, thirteen Member States registered an increase in their debt to GDP ratio at the end of the second quarter of 2016 and fifteen a decrease. The highest increases in the ratio were recorded in Greece (+9.7%), Latvia (+3.7%), Portugal (+2.9%), Poland (+2.7%) and Lithuania (+2.6%), while the largest decreases were recorded in Ireland (-13.0%), the Netherlands (-3.3%) and Hungary (-3.2%).
Source: InCyprus
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Georg Bühler, ,
Digital assets are no longer a niche, but a part of modern finance attracting a growing number of investors – and there is immense potential for Cyprus to become a leading cryptocurrency hub. By fostering a more inclusive regulatory ecosystem, Cyprus can diversify its financial services sector and position itself at the forefront of digital finance, says Georg Bühler, Managing Director of Mount Pelion Capital.
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