Cyprus state budget execution report for August 2026

The General Treasury of the Republic of Cyprus has released its budget execution report for the first eight months of 2026. By the end of August, developmental expenditure reached 603.3 million euros, representing a 37% execution rate of the 1.62 billion euro annual budget. This performance remains consistent with the same period in 2025 and surpasses the previous ten-year average of 32%.

Total state revenue for the eight-month period amounted to 6.8 billion euros, achieving a 63% execution rate, while actual expenditures reached 6.14 billion euros, or 53% of the annual budget. Compared to the same period in 2025, revenues increased by 740 million euros, largely driven by a 580 million euro rise in direct tax collections—partly from corporate and personal income taxes reaching 2.81 billion euros—and a 210 million euro increase in indirect taxes. Total expenditures rose by 290 million euros year-on-year, attributed to higher operating costs, transfers, and social benefits.