The preliminary fiscal results prepared by the Statistical Service of Cyprus show a General Government surplus of €538.8 million, corresponding to 1.5% of GDP, for January 2026.
According to the announcement of the Statistical Service on Friday, the surplus was lower compared with January 2025, when it stood at €569.3 million (1.6% of GDP).
Total revenue in January 2026 reached €1,551.5 million, marking an increase of €14,7 million (+1%) compared with €1,536.8 million in the corresponding period of 2025.
The Statistical Service said the increase was mainly driven by taxes on income and wealth, which rose to €657 million, up €71,2 million (+12.2%) compared with last year. Capital transfers also increased to €5,2 million, from €2,9 million in 2025.
By contrast, taxes on production and imports declined to €363.4 million, recording a 6.2% decrease. However, net VAT revenue rose to €258.9 million, marking an increase of 3.7% compared with January 2025.
Social contributions also decreased to €423.4 million (-1.8%), compared with €431.2 million in 2025. Interest and dividend income fell by €2.2 million (-31%) to €4,9 million, while current transfers dropped by €8.9 million (-42.4%) to €12.1 million. Revenue from the provision of services also declined by €15.9 million (-15.7%), reaching €85.5 million, compared with €101.4 million in 2025.
Regarding expenditure, the Statistical Service said total spending increased to €1,012.7 million in January 2026, representing a rise of €45.2 million (+4.7%) compared with €967.5 million in the same period of 2025.
The largest increases were recorded in social benefits, which reached €450 million (+4.5%), and current transfers, which rose to €93.6 million, marking an increase of 30.2%. Intermediate consumption also increased to €83.5 million (+13.9%).
In the capital account, expenditure rose to €37.4 million, while gross fixed capital formation reached €27 million.
Meanwhile, a slight decrease was recorded in compensation of employees, which stood at €313.8 million, as well as in interest payments, which amounted to €34.3 million. Subsidies also declined significantly, falling to €0.1 million, compared with €8.7 million in 2025.
The Statistical Service noted that for a number of General Government entities, particularly within the Local Government subsector, estimates were produced due to insufficient data submitted by the competent authorities.
