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The Ministry of Finance clarified that the debt-to-GDP ratio is expected to decline to 57%, and not to 50%.

Local Eye

Aug. 29, 2025

GREECE

Macro/Political:

  • The annual growth rate of total credit extended to the domestic economy increased to 7.2% in July 2025, from 7% in the previous month. The annual growth rate of total deposits decreased to 5.6% in July from 6.3% in the previous month. The monthly net flow of total credit was negative by EUR 751mn in July 2025, compared with a positive net flow of EUR 2,650mn in the previous month. The monthly net flow of total deposits was negative by EUR 2,352mn compared with a positive net flow of EUR 6,588mn in June 2025.
    Source: BoG

Markets:

  • Eurobank announced the receipt of all regulatory approvals for the merger of its wholly owned subsidiaries in Cyprus, Hellenic Bank and Eurobank Cyprus.
    Source: ATHEX

CYPRUS

Macro/Political:

  • Regarding yesterday’s statements to the media by the Minister of Finance, Mr. Makis Keravnos, the Ministry of Finance issued an announcement clarifying that, according to its latest fiscal projections (Annual Progress Report 2025), public debt to GDP ratio is expected to decline to 57%, and not to 50% as was mistakenly stated. Toward the end of 2026, however, it is projected to approach 50%.
    Source: Ministry of Finance

 

  • Total deposits in July 2025 recorded a net decrease of EUR 154.5mn, compared with a net increase of EUR 654.7mn in June 2025. The annual growth rate of total deposits stood at 6.5%, compared with 7.1% in June 2025. The outstanding amount of total deposits reached EUR 56.6bn. Total loans in July 2025 recorded a net increase of EUR 74.9mn, compared with a net increase of EUR 672.3mn in June 2025. The annual growth rate stood at 7.2%, compared with 6.8% in June 2025. The outstanding amount of total loans reached EUR 26,5bn.
    Source: CBC

 

  • According to seasonally adjusted data released by CyStat, in 2Q25 the number of registered unemployed persons in Cyprus decreased to 22,663 compared to 23,760 in the correspondent quarter of 2024. The unemployment rate at 2Q25 stood at 4.3%.
    Source:CyStat
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