A surplus of pound 1,119 mn, or 3.1% of GDP was recorded for the period of January-October 2025 in the preliminary General Government fiscal results, which are prepared by the Statistical Service of Cyprus (CYSTAT).
In comparison, a surplus of pound 1,320.9 mn (3.8% of GDP) was recorded during the period of January-October 2024, it was announced on Friday.
Revenue
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During the period of January-October 2025, total revenue increased by pound 658.5 mn (5.6%) and amounted to pound 12,332.5 mn, compared to pound 11,674 mn in the corresponding period of 2024.
In detail, revenue from taxes on income and wealth increased by pound 154.6 mn (5.3%) and amounted to pound 3,051 mn, compared to pound 2,896.4 mn in 2024.
Social contributions increased by pound 296.3 mn (8.2%) and amounted to pound 3,906.7 mn, compared to pound 3,610.4 mn in 2024.
Property income increased by pound 38.2 mn (40.1%) and amounted to pound 133.5 mn, compared to pound 95.3 mn in 2024.
Taxes on production and imports increased by pound 7.7 mn (0.2%) and amounted to pound 3,948 mn, compared to pound 3,940.3 mn in 2024, of which net VAT revenue decreased by pound 24.8 mn (-0.9%), to pound 2,648.2 mn, from pound 2,673 mn in 2024.
Revenue from the sale of goods and services increased by pound 137.4 mn (18.7%) and amounted to pound 871.3 mn, compared to pound 733.9 mn in 2024.
Capital transfers increased by pound 46.2 mn (64.9%) and amounted to pound 117.4 mn, compared to pound 71.2 mn in 2024.
On the contrary, current transfers decreased by pound 21.9 mn (-6.7%) to pound 304.6 mn, from pound 326.5 mn in 2024.
Expenditure
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During the period of January-October 2025, total expenditure increased by pound 860.4 mn (8.3%) and amounted to pound 11,213.5 mn, compared to pound 10,353.1 mn in the corresponding period of 2024.
In detail, compensation of employees (including imputed social contributions and pensions of civil servants) increased by pound 201 mn (6.7%) and amounted to pound 3,204.3 mn, compared to pound 3,003.3 mn in 2024.
Social benefits increased by pound 299.7 mn (7.1%) and amounted to pound 4,532.8 mn, compared to pound 4,233.1 mn in 2024.
Intermediate consumption increased by pound 72.5 mn (6.6%) and amounted to pound 1,177 mn, compared to pound 1,104.5 mn in 2024.
The capital account increased by pound 307.8 mn (36%) and amounted to pound 1,163.8 mn, compared to pound 856 mn in 2024, of which gross capital formation increased by pound 89.9 mn (12.3%) and amounted to pound 822.3 mn, compared to pound 732.4 mn in 2024 and other capital expenditure increased by pound 217.9 mn and amounted to pound 341.5 mn, compared to pound 123.6 mn in 2024.
Interest payable increased by pound 0.5 mn (0.1%) and amounted to pound 358.7 mn, compared to pound 358.2 mn in 2024.
On the contrary, current transfers decreased by pound 10.4 mn (-1.6%) to pound 658.4 mn, from pound 668.8 mn in 2024.
Subsidies decreased by pound 10.7 mn (-8.3%) to pound 118.5 mn, from pound 129.2 mn in 2024.
CYSTAT emphasises that for the Local Government Subsector, estimates have been produced by the Statistical Service, due to non-submission of sufficient data by the competent authorities.