Cyprus state budget implementation by the end of April 2026, reports 28% realisation rate for revenue, which amounted to €3.06 billion, while actual expenditures reached €2.83 billion, representing a 25% realisation rate, according to figures published by the Treasury.
As stated, the increase observed in revenue implementation compared to the corresponding period of last year (2025: €2.93 billion, 28%) is mainly due to the increase in direct tax revenues by €0.12 billion.
At the same time, the higher implementation regarding expenditures (2025: €2.71 billion, 24%) is mainly attributed to increased spending on transfers and grants by €0.07 billion. The Treasury notes that over the past decade, the average implementation rate of the state budget’s total expenditures by the end of April stood at 24%.
Inflows from borrowing and repayment of issued loans by the end of April 2026 amounted to €1.02 billion (2025: €0.02 billion), while outflows from loan repayments and issuance of loans amounted to €1.05 billion (2025: €0.06 billion).
Meanwhile, indirect taxes increased by €0.06 billion (4%) compared to 2025, mainly due to higher VAT revenues by €0.06 billion (2026: €1.08 billion, 2025: €1.02 billion).
At the same time, direct taxes increased by €0.12 billion (10%) compared to 2025, due to higher corporate and personal income tax revenues by €0.10 billion (2026: €1.13 billion, 2025: €1.03 billion).
(Source: CNA)
