Nicosia:The Cyprus Statistical Service (CyStat) announced that the General Government fiscal results for the first nine months of 2026 have recorded a surplus of £1,609.7 million, equivalent to 4.0% of the country's GDP.

According to Cyprus News Agency, this surplus marks an increase from the £1,167.6 million surplus (3.0% of GDP) reported during the same period in 2025. The total revenue for January to September 2026 amounted to £12,091.8 million, which is an increase of £737.9 million or 6.5% compared to the previous year.

The increase in revenue was largely driven by higher taxes on income and wealth, which rose to £3,337.0 million, up by £442.2 million or 15.3% from 2025. Social contributions also saw a rise of £235.0 million or 6.6%, reaching £3,778.0 million. Additionally, taxes on production and imports increased by £251.5 million or 7.2%, totaling £3,766.0 million.

However, there were declines in other areas of revenue. Capital transfers fell by £74.6 million to £96.7 million, while revenue from the sale of goods and services decreased by £7.6 million to £743.5 million. Property income also saw a drop of £37.0 million to £92.4 million, and current transfers decreased by £71.6 million to £278.2 million.

On the expenditure side, the total General Government spending reached £10,482.1 million, reflecting an increase of £295.9 million or 2.9% from the previous year. Notable increases were seen in intermediate consumption, compensation of employees, and social benefits. However, there was a significant decrease in capital account expenditure, which fell to £936.2 million from £1,126.1 million in 2025.

Gross fixed capital formation and other capital expenditure also declined, along with subsidies, which decreased by £13.9 million to £75.8 million.