Cyrpus posts fiscal deficit of €805 million due to Covid-19 impact

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Cyprus posted a General Government deficit of €804.6 million, or 4.0% of GDP for the period of January – June 2020 with compared with a surplus of €240.5 million (1.1% of GDP), as public finances are adversely affected by the coronavirus pandemic. According to preliminary data published by the Cyprus Statistical Service (Cystat), total expenditure for the fist six months ending in June, increased by 12,9% year on year amounting to €4.30 billion, compared to €3.81 bl in the respective period …

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