Cyprus 2025 fiscal report reveals revenue growth and development delays

During a presentation before the parliamentary Audit Committee on October 22, 2026, the Accountant General of the Republic, Andreas Antoniadis, unveiled the 2025 fiscal report. The data indicates that state revenues reached €10.05 billion in 2025, compared to €9.57 billion in 2024, driven primarily by inflation and increased taxation. Total expenditures amounted to €10.15 billion, resulting in a narrowed budget deficit of €100 million, down from €320 million in the previous year.

Despite the improved financial figures, the committee addressed significant shortcomings in the implementation of state development projects. Out of €1.48 billion in approved development credits, only €1.19 billion was utilized, leaving approximately €289 million unspent. Although the 81% realization rate represents an improvement over the 69% seen in 2024, officials highlighted persistent delays and work stoppages. A specific example cited was the new Cyprus Museum, which saw its financial realization reach only 42% by June 30, 2026. The session also examined the management of greenhouse gas emission rights revenues and the rise in rigid salary expenditures due to cost-of-living adjustments (ATA).