The preliminary General Government fiscal results, prepared by the Statistical Service of Cyprus (CYSTAT), were published on Tuesday, indicating a surplus of pound 0.6 mn for the period of April-June 2025.
In comparison, a deficit of pound 68.7 mn was recorded during the period of April-June 2024.
Revenue
During the period of April-June 2025, total revenue increased by pound 307.8 mn (9.5%) and amounted to pound 3,544.8 mn, compared to pound 3,237 mn in the corresponding period of 2024.
In detail, social contributions increased by pound 81.7 mn (7.5%) and amounted to pound 1,177.9 mn, compared to pound 1,096.2 mn in the second quarter of 2024.
Revenue from taxes on income and wealth increased by pound 100.6 mn (19.8%) and amounted to pound 607.7 mn, compared to pound 507.1 mn in the corresponding quarter of 2024.
Taxes on production and imports increased by pound 45.2 mn (3.8%) and amounted to pound 1,226.4 mn, compared to pound 1,181.2 mn in the second quarter of 2024, of which net VAT revenue increased by pound 22.9 mn (2.9%) and amounted to pound 811.9 mn, from pound 789 mn in the corresponding quarter of 2024.
Property income receivable increased by pound 55.3 mn and amounted to pound 84.2 mn, compared to pound 28.9 mn in the second quarter of 2024.
Capital transfers increased by pound 47.9 mn (86.6%) and amounted to pound 103.2 mn, compared to pound 55.3 mn in the corresponding quarter of 2024.
On the contrary, other current transfers decreased by pound 15.8 mn (-10.9%) to pound 129.7 mn, from pound 145.5 mn in the second quarter of 2024.
Revenue from the sale of goods and services decreased by pound 7.1 mn (-3.2%) to pound 215.7 mn, from pound 222.8 mn in the corresponding quarter of 2024.
Expenditure
During the period of April-June 2025, total expenditure increased by pound 238.5 mn (7.2%) and amounted to pound 3,544.2 mn, from pound 3,305.7 mn in the corresponding period of 2024.
Specifically, social transfers increased by pound 72.9 mn (5.2%) and amounted to pound 1,466.6 mn, compared to pound 1,393.7 mn in the second quarter of 2024.
Compensation of employees (including imputed social contributions and pensions of civil servants) increased by pound 60.5 mn (6.7%) and amounted to pound 965 mn, compared to pound 904.5 mn in the corresponding quarter of 2024.
Property income payable increased by pound 21.5 mn (13.7%) and amounted to pound 178.4 mn, compared to pound 156.9 mn in the second quarter of 2024.
Intermediate consumption increased by pound 62.3 mn (19.4%) and amounted to pound 383.6 mn, compared to pound 321.3 mn in the corresponding quarter of 2024.
The capital account increased by pound 43.2 mn (16.7%) and amounted to pound 302.6 mn (pound 262.3 mn capital formation and pound 40.3 mn capital transfers), compared to pound 259.4 mn (pound 216.7 mn capital formation and pound 42.7 mn capital transfers) in the second quarter of 2024.
On the contrary, other current expenditure decreased by pound 21.9 mn (-9.4%) to pound 211.1 mn, from pound 233 mn in the corresponding quarter of 2024.