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At government spending in 2016, Cyprus spent almost 40% of GDP

The total share of public spending in Cyprus in 2016 reached 38,6% of GDP, reports Eurostat.

In this case, Cyprus spent 7,7% of GDP on public services, 1,5% - on defense, 1,7% accounted for expenditures for maintaining public order and security, 2,6% for economic operations, 0,3% for environmental protection; 1,5% accounted for utilities, 2,6% of GDP was spent on health, 0,9% was spent on recreation, culture and religion. Another 6% of GDP fell on education and 13,8% - on social protection.

The last category of expenses includes several categories. Expenditure on material aid for sickness and disability amounted to 0,5%, 6,2% of GDP was spent on pensions, 3,1% - to help families and children, 0,8% accounted for unemployment expenses and 1,7% - other expenses.

Eurostat noted that most of the costs of all EU member states fell on the item "social protection". On average, this figure was 19,1% of GDP. The eight EU member states - Finland, France, Denmark, Austria, Italy, Greece, Sweden and Belgium - allotted at least 20% of GDP for social protection, while Ireland, Lithuania, Romania, Latvia, Malta, Czech Republic and Bulgaria - less than 13%.

Most of the costs of social protection fell on the category of "old age pensions". The highest share of GDP in retirement in 2016 was spent by Greece (16%), Finland (13,7%), France and Italy (by 13,5%), Austria (13%). On the contrary, in Ireland (3,5 :), Lithuania (5,9%), Cyprus (6,2%) and Netherlands (6,7%) retired the lowest shares of expenses.

A source: VC

Tags: Cyprus, Economy, GDP, Statistics