Fitch changes Cyprus view to positive

Fitch Ratings said it changed the outlook for Cyprus to positive from stable and affirmed the issuer default rating at BBB-.

“Cyprus has the largest budget surplus among eurozone members in 2019 and the surplus is also significant compared with the 'BBB' median of a 2.3% deficit. Fitch expects the budget surplus to remain close to 2% of GDP in 2020-2021, well above the requirements of the EU fiscal rule,” said Fitch in a press release.

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