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Cyprus’ public debt reached €26 billion, or 124% of GDP at the end of February pushed by increased borrowing by the government in a bid to support the real economy amidst the crisis caused by the coronavirus pandemic. The rising public debt comes as the Cypriot authorities sought to boost cash reserves building a buffer that would enable the government to continue supporting the economy as the COVID-19 crisis continues. Finance Minister Constantinos Petrides has told CNA that “it was a strategic …
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