Following official audit and verification under the European Commission’s Excessive Deficit Procedure (EDP), Cyprus recorded a final fiscal surplus of €1,360.2 million for 2025. According to data released by the Statistical Service, the audited surplus represents 3.6% of GDP, while total public debt stood at €20,053.2 million, or 52.3% of GDP.
Core Public Finance Indicators (2025 vs. 2024)
Both state revenues and public outlays expanded during the year, driven by strong income tax collections, social security contributions, and a significant boost in capital investments:
| Metric | 2025 | 2024 | Absolute Shift | Percentage Change |
| Total Revenue | €15,895.2M | €14,755.4M | +€1,139.8M | +7.7% |
| Total Expenditure | €14,535.0M | €13,310.4M | +€1,224.6M | +9.2% |
| Fiscal Surplus | €1,360.2M | €1,445.0M | -€84.8M | 3.6% of GDP |
| Public Debt | €20,053.2M | — | — | 52.3% of GDP |
Revenue Stream Breakdown
State income grew by €1.14 billion in 2025, supported by broad gains in direct taxation, social contributions, and state asset returns:
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Social Security Contributions: Increased 8.4% (+€379.8M) to reach €4,899.8 million.
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Production & Import Taxes: Rose 1.4% (+€67.4M) to €4,750.2 million, despite net VAT receipts edging down 0.5% (-€16.0M) to €3,153.6 million.
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Income & Wealth Taxes: Expanded 10.0% (+€379.1M) to €4,183.8 million.
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Sales of Goods & Services: Surged 18.1% (+€161.7M) to €1,056.1 million.
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Other Current Transfers: Rose 21.4% (+€84.6M) to €480.1 million.
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Capital Transfers: Increased 7.6% (+€25.7M) to €362.6 million.
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Property Income Receivable: Advanced 34.3% (+€41.5M) to €162.6 million.
Expenditure Breakdown and Capital Investments
Government outlays expanded by 9.2% overall, with capital spending posting the sharpest growth rate across all expenditure categories:
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Social Transfers: Climbed 5.3% (+€283.0M) to €5,586.9 million.
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Compensation of Employees: Rose 7.6% (+€295.3M) to €4,173.5 million (including civil service pensions and social contributions).
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Capital Expenditure: Jumped 46.4% (+€558.3M) to €1,761.2 million (comprising €1,214.9M in gross capital formation and €546.3M in other capital items).
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Intermediate Consumption: Increased 6.6% (+€98.5M) to €1,585.4 million.
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Other Current Outlays: Rose 2.7% (+€22.9M) to €865.8 million.
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Property Income Payable (Interest): Decreased 0.4% (-€1.6M) to €422.6 million.
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Subsidies: Contracted 18.6% (-€31.8M) to €139.6 million.
Source: Stockwatch.com.cy