Nicosia, Cyprus. Cyprus recorded a general government fiscal surplus of €552.9 million during the first five months of 2026, according to preliminary figures released by the Cyprus Statistical Service on Tuesday. The surplus was equal to 1.4 per cent of GDP, compared with €544.5 million, or 1.5 per cent of GDP, in the corresponding period of 2025.
Revenue growth
According to Cystat, total government revenue rose by €282.5 million, or 4.8 per cent, to €6.2 billion from €5.92 billion a year earlier.
The increase was mainly driven by higher revenue from taxes on income and wealth, which increased by €115.2 million, or 8.4 per cent, to €1.49 billion from €1.37 billion in the corresponding period of 2025.
Social contributions rose by €102.2 million, or 5.2 per cent, reaching €2.07 billion compared with €1.96 billion a year earlier.
Revenue from taxes on production and imports increased by €93.1 million, or 4.9 per cent, to €2.00 billion from €1.90 billion.
Tax and other revenue categories
Within taxes on production and imports, net VAT revenue climbed by €138 million, or 11.0 per cent, to €1.39 billion from €1.25 billion.
Revenue from capital transfers increased by €26.4 million to €38.8 million, compared with €12.4 million in the corresponding period of 2025.
Income from the sale of goods and services also rose by €9.4 million, or 2.2 per cent, to €433.2 million from €423.8 million.
By contrast, property income fell by €24.2 million, or 26.1 per cent, to €68.5 million from €92.7 million.