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Cyprus International Investment Position (IIP) and current account balance deteriorated in the first quarter of 2021, according to provisional data released on Wednesday by the Central Bank of Cyprus (CBC). According to the preliminary balance of payments data for 2021 Q1, the current account balance of Cyprus deteriorated, with the deficit increasing from €751.5 million in 2020 Q1, to €922.0 million, in 2021 Q1. Adjusting for the impact of Special Purpose Entities (SPEs), that is, classifying SPEs as non-residents, the deficit amounted …
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