The preliminary General Government fiscal results, which are prepared by the Statistical Service of Cyprus (CYSTAT) indicate a surplus of pound 1,395.7 mn (4,0% of GDP) for the period of January-August 2025, as compared to a surplus of pound 1,328.9 mn (4,0% of GDP) that was recorded during the period of January-August 2024.
Revenue
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According to CYSTAT, during the period of January-August 2025, total revenue increased by pound 641.1 mn (+6.8%) and amounted to pound 10,102.3 mn, compared to pound 9,461.2 mn in the corresponding period of 2024. In detail, revenue from taxes on income and wealth increased by pound 178.3 mn (+7.1%) and amounted to pound 2,696 mn, compared to pound 2,517.7 mn in 2024. Social contributions increased by pound 243.8 mn (+8.4%) and amounted to pound 3,136.5 mn, compared to pound 2,892.7 mn in 2024.
Property income increased by pound 57.4 mn and amounted to pound 121.8 mn, compared to pound 64.4 mn in 2024. Taxes on production and imports increased by pound 41 mn (+1.3%) and amounted to pound 3,148.2 mn, compared to pound 3,107.2 mn in 2024, of which net VAT revenue increased by pound 47.7 mn (+2.3%) and amounted to pound 2,117.8 mn, compared to pound 2,070.1 mn in 2024.
Revenue from the sale of goods and services increased by pound 97.8 mn (+17.7%) and amounted to pound 651.6 mn, compared to pound 553.8 mn in 2024. Capital transfers increased by pound 45.8 mn (+65.7%) and amounted to pound 115.5 mn, compared to pound 69.7 mn in 2024. On the contrary, current transfers decreased by pound 22.9 mn (-9%) to pound 232.7 mn, from pound 255.6 mn in 2024.
Expenditure
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CYSTAT says that during the period of January-August 2025, total expenditure increased by pound 574.3 mn (+7.1%) and amounted to pound 8,706.6 mn, compared to pound 8,132.3 mn in the corresponding period of 2024.
In detail, compensation of employees (including imputed social contributions and pensions of civil servants) increased by pound 149.3 mn (+6.2%) and amounted to pound 2,544 mn, compared to pound 2,394.7 mn in 2024. Social benefits increased by pound 231.1 mn (+6.8%) and amounted to pound 3,622.8 mn, compared to pound 3,391.7 mn in 2024. Intermediate consumption increased by pound 84.6 mn (+10.1%) and amounted to pound 920.1 mn, compared to pound 835.5 mn in 2024.
The capital account increased by pound 131.8 mn (+22.9%) and amounted to pound 707 mn, compared to pound 575.2 mn in 2024, of which gross capital formation increased by pound 92.9 mn (+19.2%) and amounted to pound 576.7 mn, compared to pound 483.8 mn in 2024 and other capital expenditure increased by pound 38.9 mn (+42.6%) and amounted to pound 130.3 mn, compared to pound 91.4 mn in 2024.
On the contrary, interest payable decreased by pound 2.9 mn (-1%) to pound 287.7 mn, from pound 290.6 mn in 2024. Current transfers decreased by pound 16.6 mn (-3.1%) to pound 527 mn, from pound 543.6 mn in 2024. Subsidies decreased by pound 3 mn (-3%) to pound 98 mn, from pound 101 mn in 2024.