At €465 million, the Republic of Cyprus' deficit from Operating and Investing Activities decreased to €465 million, mainly due to increased direct tax revenues, compared to a deficit of €1.13 billion in 2020, according to the Fiscal Report of the Republic of Cyprus for the fiscal year 2021 which was submitted, on 29 March 2022, to the House of Representatives, within the deadline of three months from the end of the fiscal reference year set by the Constitution of the Republic of Cyprus.
Also in 2021, the Republic's Financial Activities included new borrowings of €1.6 billion and loan repayments of €2.2 billion.
According to a statement by the General Accounting Office of the Republic, the Financial Report, which was submitted to the Minister of Finance by the Comptroller General of the Republic on 17 March
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