Cyprus posts €573.3 million fiscal surplus in first quarter of 2026, Cystat says

Nicosia, Cyprus. Cyprus’ general government recorded a fiscal surplus of €573.3 million during January-March 2026, according to a report based on preliminary data by the Cyprus Statistical Service (Cystat). 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, in the same period of 2025.

Revenue increases in first quarter

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.

Taxes and contributions

Revenue from taxes on income and wealth rose by €107.80 million, or 10.9 per cent, amounting 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.

Taxes on production and imports grew by €31.50 million, or 2.9 per cent, totalling €1.12 billion compared with €1.09 billion in 2025.

Net VAT revenue rose by €34.60 million, or 4.8 per cent, reaching €758.80 million from €724.20 million in the previous year.

Other revenue items

Capital transfers increased by €0.60 million, or 13.6 per cent, reaching €5.00 million compared with €4.40 million in 2025.

Property income declined by €3.30 million, or 17.5 per cent, falling to €15.60 million from €18.90 million a year earlier.

Revenue from the sale of goods and services decreased by €19.00 million, or 7.2 per cent, reaching €243.80 million compared with €262.80 million in 2025.

Which revenue categories contributed most to Cyprus’ general government revenue increase in the first quarter of 2026?