Cyprus Mail
Suzana Psara
Cyprus recorded a general government surplus of €840.6 million in the first seven months of 2025, corresponding to 2.4 per cent of GDP, according to preliminary fiscal results published by the Statistical Service of Cyprus (Cystat) on Friday.
The figure was slightly lower than the €911.7m surplus, or 2.7 per cent of GDP, registered in the same period of 2024.
Total revenue between January and July increased by €391.7m, or 4.8 per cent year-on-year, reaching €8.50 billion, compared with €8.10bn in 2024
Revenue from taxes on income and wealth rose by 8.8 per cent to €2.03bn, up from €1.87bn a year earlier. Social contributions climbed by 9.2 per cent to €2.77bn, compared with €2.54bn in 2024.
Property income almost doubled to €113m from €58.6m a year earlier.
Taxes on production and imports increased by 0.7 per cent to €2.77bn, compared with €2.75bn last year, with net VAT revenue rising 1.9 per cent to €1.84bn.
Revenue from the sale of goods and services remained broadly unchanged at €582.3m.
By contrast, current transfers fell sharply by 18.3 per cent to €196.4m, down from €240.3m in 2024, while capital transfers dropped by 54.2 per cent to €30.7m, compared with €67.1m a year earlier.
On the expenditure side, total spending rose by €462.8m, or 6.4 per cent, reaching €7.65bn compared with €7.19bn in 2024.
Compensation of employees, including imputed social contributions and pensions for civil servants, increased by 6.9 per cent to €2.24bn.
Social benefits climbed 6.7 per cent to €3.20bn. Intermediate consumption rose by 7.1 per cent to €789.5m, while interest payments edged up by 0.6 per cent to €283.5m.
Capital expenditure expanded by 22.3 per cent to €601.2m, compared with €491.7m a year earlier. This included gross capital formation of €491.8m, an increase of 20.1 per cent from €409.4m in 2024, and other capital spending of €109.4m, up 32.9 per cent from €82.3m.
Meanwhile, current transfers declined by 7.2 per cent to €453.5m, compared with €488.6m in 2024, while subsidies decreased by 12.3 per cent to €82.8m, down from €94.4m.
Finally, the subsector breakdown shows the central government posted a surplus of €126.5m, local government recorded a surplus of €8.9m, and the social security funds registered a surplus of €705.2m
.https://cyprus-mail.com/2025/08/29/cyprus-posts-e840-6m-fiscal-surplus-in-jan-july-2025
