Nicosia, Cyprus. Cyprus recorded a general government fiscal surplus of €573.3 million in January-March 2026, according to preliminary data from the Cyprus Statistical Service. Separately, new data from Qrator Labs reported a sharp rise in DDoS attacks targeting key digital economy sectors.
Fiscal balance and revenue growth
The surplus corresponded to 1.5 per cent of GDP, compared with a surplus of €600.60 million, equivalent to 1.6 per cent of GDP, during the same period of 2025.
Total revenue increased by €194.00 million, or 5.4 per cent, reaching €3.81 billion, up from €3.61 billion in the first quarter of 2025.
Revenue from taxes on income and wealth rose by €107.80 million, or 10.9 per cent, to €1.09 billion compared with €985.90 million a year earlier.
Social contributions increased by €86.00 million, or 7.3 per cent, reaching €1.26 billion from €1.18 billion in the corresponding period of 2025.
DDoS attacks target banking, payments and iGaming
A report from cybersecurity firm Qrator Labs said a sharp rise in DDoS attacks is placing Cyprus’ banking, payments and iGaming sectors at heightened risk.
Qrator Labs said these industries are among the most frequently targeted globally and form the backbone of the island’s digital economy.
According to the findings, banks accounted for 22.8 per cent of DDoS incidents, followed by payment systems at 15.9 per cent and betting platforms at 10.0 per cent.
Together, the three sectors represented nearly half of all recorded attacks during the first quarter of the year.
The report also cited a shift towards more complex and sustained cyberattacks, increasing disruption for businesses operating in availability-critical sectors.
How do you think Cyprus’ key sectors should respond to the rise in DDoS attacks?
