Cyprus GDP rose from 17 637 billion in 2015 to 17 901 billion in 2016, according to the 1st notification of the national accounts published today by Eurostat.

According to the 1st notifiaction data, the 2016 budget recorded a surplus of 64 million euro compared to -209 million deficit in 2015, or 0.4% of GDP. At the same time National debt increased from 18 961 billion euro in 2015 to 19 298 billion in 2016 or 107.8% of GDP. Government expenditure was 38.9% of GDP and revenue 39.2% of GDP.