ATHENS, February 24 (RIA Novosti) – Conservative candidate Nicos Anastasiades has won Cyprus's presidential run-off election, the Interior Ministry's website said on Sunday.

With all the votes counted, Anastasiades, 66, of the main opposition Democratic Rally party, garnered 57.5 percent of the vote while left-wing rival and former health minister Stavros Malas, 45, won 42.5 percent of the ballots.

Voter turnout in run-off presidential elections in Cyprus on Sunday was considerably lower than the first round on February 17, in which Anastasiades got 45.5 percent of the vote.

The vote for Anastasiades, who favors a swift EU bailout agreement, is seen as an endorsement of his policies. The Mediterranean island, which is on the brink of bankruptcy, needs a bailout of 17.5 billion euros ($23 billion), Cyprus' Finance Minister Vassos Shiarly said in November.