A surplus of €619.1 mn is indicated by the preliminary General Government fiscal results, which are prepared by the Statistical Service of Cyprus (CyStat) for the period of January-March 2025, as compared to a surplus of €575.7 mn that was recorded during the period of January-March 2024.
Revenue
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In particular according to CyStat, during the period of January-March 2025, total revenue increased by €231.2 mn (6.8%) and amounted to €3,639.7 mn, compared to €3,408.5 mn in the corresponding period of 2024.
In detail, social contributions increased by €139.3 mn (13.2%) and amounted to €1,191.4 mn, compared to €1,052.1 mn in the first quarter of 2024.
Revenue from taxes on income and wealth increased by €70.7 mn (7.7%) and amounted to €985.9 mn, compared to €915.2 mn in the corresponding quarter of 2024.
Revenue from the sale of goods and services increased by €57.3 mn (26.4%) and amounted to €274.6 mn, compared to €217.3 mn in the first quarter of 2024.
Taxes on production and imports increased by €28 mn (2.6%) and amounted to €1,100.7 mn, compared to €1,072.7 mn in the corresponding quarter of 2024, of which net VAT revenue increased by €4.8 mn (0.7%) to €733.2 mn, from €728.4 mn in the first quarter of 2024.
On the contrary, other current transfers decreased by €52.3 mn (-44.2%) to €66 mn, from €118.3 mn in the corresponding quarter of 2024.
Property income receivable decreased by €2.4 mn (-11.5%) to €18.7 mn, from €21.1 mn in the first quarter of 2024.
Capital transfers decreased by €9.4 mn (-79.7%) to €2.4 mn, from €11.8 mn in the corresponding quarter of 2024.
Expenditure
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During the period of January-March 2025, total expenditure increased by €187.7 mn (6.6%) and amounted to €3,020.6 mn, from €2,832.9 mn in the corresponding period of 2024.
Specifically, social transfers increased by €103 mn (8.7%) and amounted to €1,280.9 mn, compared to €1,177.9 mn in the first quarter of 2024.
Compensation of employees (including imputed social contributions and pensions of civil servants) increased by €58 mn (6.5%) and amounted to €955.5 mn, compared to €897.5 mn in the corresponding quarter of 2024.
Subsidies increased by €1.1 mn (3.1%) and amounted to €36.2 mn, compared to €35.1 mn in the first quarter of 2024.
Property income payable increased by €0.4 mn (0.6%) and amounted to €72.1 mn, compared to €71.7 mn in the corresponding quarter of 2024.
The capital account increased by €53 mn (33.3%) and amounted to €212 mn (€176.8 mn capital formation and €35.2 mn capital transfers), compared to €159 mn (€131.4 mn capital formation and €27.6 mn capital transfers) in the first quarter of 2024.
On the contrary, intermediate consumption decreased by €24 mn (-8.1%) to €271.1 mn, from €295.1 mn in the corresponding quarter of 2024.
Other current expenditure decreased by €3.8 mn (-1.9%) to €192.8 mn, from €196.6 mn in the first quarter of 2024.
CNA/MCH/EPH/2025
ENDS, CYPRUS NEWS AGENCY
