Cyprus fiscal surplus climbs to €119.4 million in late 2025

Cyprus’ general government recorded a surplus of €119.40 million in the fourth quarter of 2025, compared with a €94.90 million surplus in the same period of 2024, according to the state statistical service (Cystat).

The statistical service’s preliminary fiscal results, published on Friday, cover the period from October to December 2025 and reflect continued strengthening in public finances.

Total revenue during the quarter reached €4.69 billion, marking an increase of €482.40m or 11.5 per cent compared with €4.20 billion in the corresponding period of 2024.

Social contributions rose by €79.50m or 6.2 per cent, amounting to €1.36bn, up from €1.28bn in the fourth quarter of 2024.

Revenue from taxes on income and wealth recorded a significant increase, rising by €196.90m or 18.0 per cent to €1.29bn, compared with €1.09bn a year earlier.

Taxes on production and imports increased by €68.90m or 5.9 per cent, reaching €1.24bn, up from €1.17bn in the same quarter of 2024.

Within this category, net VAT revenue rose marginally by €2.10m or 0.3 per cent, reaching €808.10m, compared with €806.00m in the previous year.

Other current transfers recorded a notable increase of €98.90m, rising to €195.50m from €96.60m in the fourth quarter of 2024.

Revenue from the sale of goods and services surged by €69.20m or 28.7 per cent, reaching €309.90m, compared with €240.70m in the corresponding period of 2024.

On the other hand, property income receivable declined sharply by €18.80m or 37.2 per cent, falling to €31.70m from €50.50m a year earlier.

Capital transfers also decreased by €12.20m or 4.6 per cent, amounting to €254.30m, compared with €266.50m in the fourth quarter of 2024.

Total expenditure for the period rose to €4.57bn, representing an increase of €457.90m or 11.1 per cent, compared with €4.11bn in the same period of 2024.

Social transfers increased by €98.20m or 6.6 per cent, reaching €1.59bn, compared with €1.50bn in the fourth quarter of 2024.

Compensation of employees, including imputed social contributions and pensions of civil servants, rose by €106.80m or 9.0 per cent, amounting to €1.29bn, up from €1.18bn in the previous year.

Intermediate consumption increased by €42.20m or 8.4 per cent, reaching €545.80m, compared with €503.60m in the corresponding quarter of 2024.

Other current expenditure recorded a sharp rise of €100.10m or 42.8 per cent, reaching €333.90m, compared with €233.80m a year earlier.

Subsidies increased by €11.00m or 23.9 per cent, amounting to €57.10m, compared with €46.10m in the fourth quarter of 2024.

The capital account showed strong growth, increasing by €112.90m or 20.9 per cent to €653.50m, compared with €540.60m in the same quarter of 2024.

This included €457.40m in capital formation and €196.10m in capital transfers, compared with €432.90m and €107.70m respectively in 2024.

Conversely, property income payable declined by €13.30m or 12.7 per cent, falling to €91.50m from €104.90m in the fourth quarter of 2024.