Cyprus’ public debt in June drops to lowest level since COVID-19 pandemic – China.org.cn

NICOSIA, Aug. 12 (Xinhua) — Cyprus’ public debt in June dropped 3.1 percent year-on-year to 24.18 billion euros (24.9 billion U.S. dollars), the lowest level since the start of the coronavirus pandemic in early 2020, a statement issued by the Ministry of Finance said on Friday. Despite the drop, the public debt still stands higher than the pre-pandemic level, the statement said. It said the ministry had increased the public debt at the onset of the pandemic through the issuing of public bonds in a bid to support the state’s liquidity and the continuation of economic activities. The government paid…