Cyprus Posts €1.59 Billion Government Surplus in Jan-Aug 2026, Surpassing Previous Year
Cyprus registered a general government surplus of €1.59 billion in the first eight months of 2026, equivalent to 4.1% of GDP, marking a significant increase from €1.27 billion or 3.5% of GDP in the same period of 2025. This improvement was driven largely by an increase in government revenue outpacing expenditure growth.
Total government revenue rose by 6%, reaching €10.84 billion, fueled by higher taxes on income and wealth, production and imports, and social contributions. Notably, net VAT revenue climbed by 14.7%, reflecting stronger economic activity and consumption. Meanwhile, government expenditure increased by a more modest 3.3% to €9.25 billion, with social benefits and intermediate consumption being the main cost drivers.
Despite some declines in other revenue sources such as capital transfers and property income, the overall fiscal position strengthened, providing the government with greater fiscal space. Cystat noted that the figures are preliminary and may be revised as more detailed data from various government sectors and local authorities become available.
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