Cyprus posts €770.6 million fiscal surplus in first seven months of 2026
Cyprus recorded a general government fiscal surplus of €770.6 million in the first seven months of 2026, amounting to 2% of GDP, according to preliminary data from the statistical service Cystat. This surplus was €11 million higher compared to the same period in 2025, despite a slight decline in its GDP percentage from 2.1%.
Government revenue increased by 4.1% to €8.91 billion, driven by rises in taxes on income and wealth (7.7%), social contributions (7.5%), and taxes on production and imports (8.1%). Notably, net VAT revenue surged by 14.7% to €2.03 billion. Conversely, capital transfers, property income, and revenue from goods and services declined.
Government expenditure rose by 4.4% to €8.14 billion, with increases in intermediate consumption, employee compensation, social benefits, and interest payments. The surplus was mainly attributed to Social Security Funds, which reported a €775.1 million surplus, while the central government ran a €5 million deficit and local government surplus dropped significantly.
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