Bloomberg News

Cyprus’s Fiscal Gap in January to August Widens to 3.8% of GDP

October 04, 2011

Oct. 4 (Bloomberg) -- Cyprus’s fiscal gap for January to August on a cash basis widened to 699.1 million euros ($923.4 million) or 3.8 percent of the economy, from 2.7 percent a year before, the Ministry of Finance said.

In the first eight months of the year, revenue rose an annual 0.5 percent to 4 billion euros, the Nicosia-based ministry said in a statement on its website today. Public spending rose 5.5 percent to 4.7 billion euros.

--Editors: Chris Peterson, Peter Branton

To contact the reporter on this story: Stelios Orphanides in Nicosia at sorphanides@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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