A surplus of €1,159.4m (3.2% of GDP) is indicated by the preliminary General Government fiscal results, which are prepared by CySTAT for the period of January-November 2025.
This compares to a surplus of €1,314.3m (3.8% of GDP) that was recorded during the period of January-November 2024.
Revenue
During the period of January-November 2025, total revenue increased by €748.3m (5.8%) and amounted to €13,570.2m, compared to €12,821.8m in the corresponding period of 2024.
In detail, revenue from taxes on income and wealth increased by €165.2m (5.4%) and amounted to €3,247.5m, compared to €3,082.3m in 2024. Social contributions increased by €325.3m (8.1%) and amounted to €4,320.1m, compared to €3,994.8m in 2024.
Property income increased by €37.6m (37.2%) and amounted to €138.6m, compared to €101m in 2024.
Taxes on production and imports increased by €34.6m (0.8%) and amounted to €4,416.8m, compared to €4,382.2m in 2024, of which net VAT revenue decreased by €13.5m (0.5%), to €2,983.3m, from €2,996.8m in 2024.
Revenue from the sale of goods and services increased by €155.5m (18.5%) and amounted to €996.2m, compared to €840.7m in 2024.
Capital transfers increased by €47.5m (66.7%) and amounted to €118.7m, compared to €71.2m in 2024. On the contrary, current transfers decreased by €17.4m (-5%) to €332.3m, from €349.7m in 2024.
Expenditure
During the period of January-November 2025, total expenditure increased by €903.3m (7.8%) and amounted to €12,410.8m, compared to €11,507.5m in the corresponding period of 2024.
In detail, compensation of employees (including imputed social contributions and pensions of civil servants) increased by €210m (6.3%) and amounted to €3,529.4m, compared to €3,319.4m in 2024.
Social benefits increased by €328.5m (7.1%) and amounted to €4,983.7m, compared to €4,655.2m in 2024.
Intermediate consumption increased by €69.3m (5.5%) and amounted to €1,339.7m, compared to €1,270.4m in 2024.
The capital account increased by €345.9m (36.1%) and amounted to €1,304.3m, compared to €958.4m in 2024, of which gross capital formation increased by €119.2m (14.7%) and amounted to €929.9m, compared to €810.7m in 2024 and other capital expenditure increased by €226.7m and amounted to €374.4m, compared to €147.7m in 2024.
On the contrary, interest payable decreased by €2.1m (-0.5%) to €406.8m, from €408.9m in 2024.
Current transfers decreased by €34.3m (-4.6%) to €707.6m, from €741.9m in 2024.
Subsidies decreased by €14m (-9.1%) to €139.3m, from €153.3m in 2024.
The Statistical Service notes that for a number of entities of the General Government and specifically for the Local Government Subsector, estimates have been produced by the Statistical Service, due to non-submission of sufficient data by the competent authorities.
(Source: CNA)
