Cyprus achieves balanced state budget execution of €5.43bn halfway through 2026
By the end of July 2026, Cyprus had collected and spent exactly €5.43 billion, reflecting a balanced execution of state revenue and expenditure midway through the budget year, according to a Treasury report. Revenue execution reached 50% of the annual budget, with expenditures slightly lower at 47%. The government’s revenue growth was driven primarily by increased VAT and income tax collections, which rose by €200 million and €150 million respectively compared to the same period in 2025.
On the spending side, increases were seen mainly in social benefits, operating costs, transfers, and grants, while expenditures on salaries and pensions remained relatively stable. Capital and development spending also outpaced the historical average, focusing on infrastructure projects and initiatives supporting the green and digital transition, partly funded by EU co-financed programs. Despite a surge in foreign debt repayments, interest costs remained stable, highlighting effective management of public finances as tax revenue growth accommodated higher social and operational expenses without upsetting budget balance.
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