The Central Bank of Cyprus published preliminary external statistics for the first quarter of 2025, covering the balance of payments, international investment position and external debt. The data show a deterioration in the current account balance and a larger net liability position in the international investment position, while gross and net external debt declined compared with the previous quarter. The current account deficit widened to EUR 1,207.8 million in Q1 2025 from EUR 947.0 million in Q1 2024. After adjusting for the impact of special purpose entities (SPEs) by classifying SPEs as non-residents, the deficit was EUR 1,085.1 million versus EUR 1,102.3 million in Q1 2024. The international investment position (TIF) recorded net liabilities of EUR 31,013.5 million in Q1 2025, compared with EUR 29,177.6 million in Q4 2024, or EUR 12,923.5 million versus EUR 11,097.0 million on an SPE-adjusted basis. Gross external debt fell to EUR 243,398.8 million from EUR 246,167.9 million, and net external debt decreased by EUR 1,391.9 million to EUR 17,505.8 million; on an SPE-adjusted basis, gross external debt was EUR 59,046.1 million and net external debt was -EUR 24,636.9 million.
Central Bank of Cyprus 2025-07-02
Central Bank of Cyprus publishes preliminary Q1 2025 external statistics showing wider current account deficit and higher net liability position
The Central Bank of Cyprus released preliminary Q1 2025 external statistics, showing a widened current account deficit of EUR 1,207.8 million and increased net liabilities in the international investment position. Gross and net external debt decreased from the previous quarter, with gross external debt at EUR 243,398.8 million and net external debt reduced by EUR 1,391.9 million. Adjustments for special purpose entities indicate a slightly narrower current account deficit and different debt figures.