Government deposits drop to €1.1bn in May, CBC says

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By Stelios Orphanides

The Central Bank of Cyprus said that the Cypriot government’s deposits stood at the end of last month at €1.1bn, down by €52.4m compared to April.

The central balance sheet rose by €304.9m in a month to €14.7bn last month mainly on increased intra-Eurosystem claims, the bank supervisor said in a statement on its website on Tuesday. This was offset by an increase in liabilities in euro to banks in the euro area related to monetary policy operations.

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Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]