Cyprus Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Cyprus's budget deficit was 3.41% in 2025, ranked 10th globally. This represents a 20.3% decrease from 2024. Data from IMF WEO, covering 1995–2025.
Overview
Cyprus's budget deficit stood at 3.41% in 2025, a decline of +0.87% from 2024. The IMF projects 3.41% by 2025. Cyprus ranked 10th globally.
Cyprus's budget deficit has exhibited significant fluctuations over the past three decades, ranging from a high of 4.28% in 2024 to a low of -8.80% in 2014. The country's current budget deficit stands at 3.41% in 2025, ranking it tenth globally according to the IMF's World Economic Outlook. Notably, Cyprus's deficit has been surpassed by several peer economies, including Nauru with a deficit of 3.59% and Macao SAR, China with a deficit of 4.13%. The 2014 trough marked a notable turning point, as Cyprus's budget deficit began to increase, peaking in 2024. While the exact factors driving this trend are complex, it is evident that Cyprus's budget deficit has become a pressing concern for policymakers. A sustained reduction in government spending, coupled with increased revenue growth, would be necessary to alter the trajectory of Cyprus's budget deficit and stabilize the country's fiscal position.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 1.38% | - | - |
| 2029* IMF | 2.00% | - | - |
| 2028* IMF | 2.60% | - | - |
| 2027* IMF | 3.00% | - | - |
| 2026* IMF | 3.17% | - | - |
| 2025* IMF | 3.41% | - | - |
| 2025 | 3.41% | −0.87% | #10 |
| 2024 | 4.28% | +2.58% | #178 |
| 2023 | 1.70% | −0.95% | #166 |
| 2022 | 2.65% | +4.29% | #172 |
| 2021 | -1.64% | +3.93% | #142 |
| 2020 | -5.58% | −6.61% | #101 |
| 2019 | 1.03% | +4.39% | #157 |
| 2018 | -3.36% | −5.49% | #54 |
| 2017 | 2.13% | +1.68% | #176 |
| 2016 | 0.45% | +1.22% | #161 |
| 2015 | -0.77% | +8.03% | #146 |
| 2014 | -8.80% | −3.64% | #8 |
| 2013 | -5.16% | +0.39% | #36 |
| 2012 | -5.55% | +0.10% | #35 |
| 2011 | -5.65% | −0.97% | #32 |
Detected Pattern
Analysis
Cyprus matched the Export Boom Cycle pattern in 1994. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Cyprus's budget deficit was 3.41% in 2025. Ranked 10th globally. This represents a 20.3% decrease from the previous year.
Cyprus's budget deficit peaked at 4.28% in 2024.
The lowest budget deficit in Cyprus was -8.80% in 2014.
Cyprus ranks 10th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Cyprus's budget deficit is projected to reach 3.41% by 2025 based on IMF projection.
The budget deficit of Cyprus in 2025 was 3.41%. This ranks 10th in the world.
Cite this page
@misc{historysaid_cyprus_budget-deficit,
title = {Cyprus Budget Deficit},
url = {https://historysaid.com/cyprus/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}