Brussels, 21/06/2006 (Agence Europe) - On Wednesday 21 June, the European Commission decided to recommend that the Council puts an end to the excessive deficit procedure (EDP) against Cyprus, as the country's public deficit dropped to 2.4% in 2005 and is set to reduce still further in 2006 and 2007. Cyprus's indebtedness rate also fell in 2005, to a level of 70.25%, and is likely to drop to 68% in 2007. Cyprus will be the first of the six new Member States which have had an EDP against them since their accession to have the procedure closed. Furthermore, it will be the first time that a procedure has been closed since the one against the Netherlands in June 2005. A total of 11 countries still have an excessive deficit procedure open against them, including five Member States of the euro zone, according to the Commission. If the procedure in the case of Cyprus is closed, there will still be 11 Member States subject to an EDP: Germany, France, Greece, Italy, Portugal, the United Kingdom, the Czech Republic, Hungary, Malta, Poland and Slovakia. Portugal, Italy and the United Kingdom were the last to have a procedure opened against them, in 2005. The deadlines set them to correct their deficits range from 2005 to 2008. The text of the Commission's evaluation of Cyprus's situation can be found on the Internet at the following address: http: //ec.europa.eu/economy_finance/about/activities/sgp/country/cyprus_en.htm