Nicosia: A surplus of £1,159.4 million (3.2% of GDP) is indicated by the preliminary General Government fiscal results, which are prepared by the Statistical Service of Cyprus (CYSTAT) for the period of January-November 2025, as compared to a surplus of £1,314.3 million (3.8% of GDP) that was recorded during the period of January-November 2024.
According to Cyprus News Agency, during the period of January-November 2025, total revenue increased by £748.3 million (5.8%) and amounted to £13,570.2 million, compared to £12,821.8 million in the corresponding period of 2024. In detail, revenue from taxes on income and wealth increased by £165.2 million (5.4%) and amounted to £3,247.5 million, compared to £3,082.3 million in 2024. Social contributions increased by £325.3 million (8.1%) and amounted to £4,320.1 million, compared to £3,994.8 million in 2024.
Property income increased by £37.6 million (37.2%) and amounted to £138.6 million, compared to £101 million in 2024. Taxes on production and imports increased by £34.6 million (0.8%) and amounted to £4,416.8 million, compared to £4,382.2 million in 2024, of which net VAT revenue decreased by £13.5 million (0.5%), to £2,983.3 million, from £2,996.8 million in 2024.
Revenue from the sale of goods and services increased by £155.5 million (18.5%) and amounted to £996.2 million, compared to £840.7 million in 2024. Capital transfers increased by £47.5 million (66.7%) and amounted to £118.7 million, compared to £71.2 million in 2024. On the contrary, current transfers decreased by £17.4 million (-5%) to £332.3 million, from £349.7 million in 2024.
During the period of January-November 2025, total expenditure increased by £903.3 million (7.8%) and amounted to £12,410.8 million, compared to £11,507.5 million in the corresponding period of 2024. In detail, compensation of employees (including imputed social contributions and pensions of civil servants) increased by £210 million (6.3%) and amounted to £3,529.4 million, compared to £3,319.4 million in 2024.
Social benefits increased by £328.5 million (7.1%) and amounted to £4,983.7 million, compared to £4,655.2 million in 2024. Intermediate consumption increased by £69.3 million (5.5%) and amounted to £1,339.7 million, compared to £1,270.4 million in 2024.
The capital account increased by £345.9 million (36.1%) and amounted to £1,304.3 million, compared to £958.4 million in 2024, of which gross capital formation increased by £119.2 million (14.7%) and amounted to £929.9 million, compared to £810.7 million in 2024 and other capital expenditure increased by £226.7 million and amounted to £374.4 million, compared to £147.7 million in 2024.
On the contrary, interest payable decreased by £2.1 million (-0.5%) to £406.8 million, from £408.9 million in 2024. Current transfers decreased by £34.3 million (-4.6%) to £707.6 million, from £741.9 million in 2024. Subsidies decreased by £14 million (-9.1%) to £139.3 million, from £153.3 million in 2024.
The Statistical Service notes that for a number of entities of the General Government and specifically for the Local Government Subsector, estimates have been produced by the Statistical Service, due to non-submission of sufficient data by the competent authorities.