Cyprus has a good economic goal. Its money owed is less than 60% of its total money made. This is good news. It happened one year early. President Nikos Christodoulides is happy. He said it shows Cyprus is strong. Good planning also helped. Strict money rules were important.
This is a big step for Cyprus. Cyprus is part of the EU. It wants a strong economy. Last year, Cyprus made its debt much lower. The debt went down a lot. Now, Cyprus's debt is less than the EU average. This is very good. Cyprus had low debt before too.
Less debt helps Cyprus and its people. It shows the government spends money well. Other countries will see Cyprus better. The government might borrow money for less. This means more money for important things. Like health, schools, and homes. This will help families. It makes the economy strong.
President Christodoulides said, "Good money choices work." Cyprus worked hard. Its debt cut is third best in the EU. The country spent less and made more.