Cyprus posts EU’s second highest surplus, slashes debt to 65 per cent of GDP

Cyprus recorded the second highest budget surplus among European Union member states in 2024, according to data released by Eurostat on Tuesday.

The island tied with Ireland, with both countries reporting a surplus of 4.3 per cent of GDP , just behind Denmark, which led with a surplus of 4.5 per cent.

Eurostat reported that 21 of the EU’s 27 member states recorded budget deficits during the year.

Of these,