Cyprus records fiscal surplus of 770.6 million euros for early 2026

Cyprus recorded a general government fiscal surplus of 770.6 million euros during the first seven months of 2026, according to preliminary figures released by the statistical service, Cystat, on Monday. This figure represents 2 per cent of the country's GDP and marks an increase of 11 million euros compared to the 759.6 million euro surplus reported during the same period in 2025, although the relative share of GDP saw a slight decline from 2.1 per cent.

Total government revenue for the January to July period reached 8.91 billion euros, reflecting a 4.1 per cent increase over the previous year. This growth was driven by significant gains across several tax categories: revenue from taxes on income and wealth rose by 7.7 per cent to 2.19 billion euros, while social contributions climbed 7.5 per cent to 2.98 billion euros. Additionally, taxes on production and imports increased by 8.1 per cent to 2.9 billion euros, with net VAT revenue specifically surging by 14.7 per cent to 2.03 billion euros.

While revenues rose by 354.1 million euros, the figures provided by Sigma Live News note that this surplus growth was partially offset by a 343.1 million euro increase in government expenditure during the same seven-month timeframe.