Cyprus posts EU’s largest government surplus in 2025 at 3.6% of GDP

Nicosia, Cyprus. Cyprus led the EU with a government surplus equivalent to 3.6% of GDP in 2025, according to data released on Wednesday by the Cyprus Statistical Service (Cystat) and Eurostat. The figures put the surplus at €1.36bn and public revenue at almost €15.9bn.

Revenue growth across major sources

Cystat reported that government revenue reached €15.9bn in 2025, up €1.14bn, or 7.7%, from €14.76bn in 2024. Several major sources contributed to the increase, particularly social contributions and taxes on income and wealth.

Social contribution receipts reached €4.9bn, compared with €4.52bn in 2024, an increase of €379.8 million, or 8.4%, according to Cystat.

Receipts from income and wealth taxes climbed to €4.18bn from €3.8bn, rising by €379.1m, or 10%. Production and import taxes generated €4.75bn, against €4.68bn a year earlier, an increase of €67.4m, or 1.4%, Cystat said.

Debt and fiscal reporting

The audited and verified figures, prepared under the European Commission’s Excessive Deficit Procedure, showed government debt of €20.05bn, equivalent to 52.3% of GDP.

Five EU countries report surpluses

Eurostat reported that only five EU countries posted government surpluses in 2025. Behind Cyprus were Denmark, with 2.9% of GDP, Greece with 2%, Ireland with 1.8% and Portugal with 0.7%.

Every other member state recorded a deficit, according to Eurostat. Romania had the largest, at 7.8% of GDP, followed by Poland at 7.2%, Belgium at 5.2% and France at 5.1%.

Eurostat’s data showed that deficits in 11 member states reached or exceeded 3% of GDP.