Cyprus - Government Budget Balance
Cyprus: Government Budget Balance
| Mnemonic | GVBAL.ICYP | |
|---|---|---|
| Unit | Mil. EUR, NSA | |
| Adjustments | Not Seasonally Adjusted | |
| Quarterly | 66.97 % | |
| Data | 2021 Q1 | -187.9 |
| 2020 Q4 | -568.9 | |
Series Information
| Source | Statistical Service of the Republic of Cyprus (CYSTAT) |
| Release | Public finance / Quarterly accounts of general government / Quarterly non-financial accounts for general government / ESA 2010 questionnaire 2500 |
| Frequency | Quarterly |
| Start Date | 3/31/1995 |
| End Date | 3/31/2021 |
Cyprus: Government
| Reference | Last | Previous | Units | Frequency | |
|---|---|---|---|---|---|
| Government Budget Balance | 2021 Q1 | -187.9 | -568.9 | Mil. EUR, NSA | Quarterly |
| Government Expenditures | 2021 Q1 | 2,258 | 3,087 | Mil. EUR, NSA | Quarterly |
| Government Revenues | 2021 Q1 | 2,070 | 2,518 | Mil. EUR, NSA | Quarterly |
| Outstanding Public Debt | 2020 | -22,948,067 | -20,451,507 | Ths. EUR | Annual |
| Outstanding Public Debt - Domestic | 2020 | -2,855,888 | -3,699,703 | Ths. EUR | Annual |
| Outstanding Public Debt - Foreign | 2020 | -20,092,179 | -16,751,804 | Ths. EUR | Annual |
Release Information
For Cyprus, public (general government) finances, with categorized expenditure and revenue items, in euros, quarterly since 1995.
- Framework: ESA 2010
- Measurement: Millions of euros at current prices (Mil. EUR)
- Adjustment: Not seasonally adjusted (NSA)
- Native frequency: Quarterly
- Start date: 1995Q1
Although Cyprus acceded to the euro zone in 2008, it reported two euro-valued "questionnaires" (spreadsheets) to Eurostat with periods from 1995Q1. They were:
- ESA95 Questionnaire 2501 - Quarterly non-financial accounts of general government (i.e., expenditures)
- ESA95 Questionnaire 2502 - Quarterly non-financial accounts of general government (i.e., revenues)
As of November 2014, CYSTAT switched to a single spreadsheet, ESA2010 Questionnaire 2500.
Definitions
Expenditure items
- Intermediate consumption
- The value of the goods and services consumed as inputs, e.g., operational office expenses, maintenance, lighting, etc.
- Capital formation
- Acquisitions of fixed assets, e.g., land, buildings, roads, bridges, machinery, etc.
- Compensation of employees
- The total remuneration of employees. It pertains to wages and salaries and employer's social contributions.
- Other taxes on production
- All taxes that incur as a result of engaging in production, e.g., VAT, taxes on international transactions, taxes on pollution, etc.
- Subsidies
- Current unrequited payments by general government to resident producers.
- Interest paid
- Amounts paid as interest on loans.
- Social transfers
- Transfers to households intended to relieve them from the financial burden, e.g., old-age pensions, unemployment benefits, etc.
- Other current transfers
- Transfers to organizations to cover operational costs, transfers to international organizations.
- Capital transfers
- Transfers in cash or in kind to organisations for the acquisition of fixed assets.
Revenue items
- Market output
- Revenue from the provision of goods and services.
- Taxes on production and imports
- VAT, import duties, excise duties, stamp duties, taxes on lottery and betting, etc.
- Property income
- Income related to interest, dividends etc.
- Current taxes on income, wealth etc.
- Income taxes, capital taxes, vehicles circulation taxes, taxes on holding gains, taxes on winnings from lottery or gambling, etc.
- Social contributions
- Contributions to Social Security Funds.
- Other current transfers
- Contributions from international and local organisations.
- Capital transfers
- Transfers in cash or in kind for the acquisition of fixed assets.
Moody's Analytics supplements
We compute seasonally adjusted (SAAR) versions of the headline items (balance, revenue, expenditure) and interest payable.
Revisions do take place often for the full length of the series, although usually of small magnitude.
