General Government surplus reaches €566.9m in January 2025

A General Government surplus of €566.9 million (1.6% of GDP) has been recorded for January 2025 according to the preliminary fiscal results prepared by CySTAT.

CySTAT said that the corresponding surplus for January 2024 amounted to €476.5 million (1.4% of GDP).

In particular, it is noted that total revenue in January 2025 increased by €194.3 million (+14.3%) to €1,554.9 million, compared to €1,360.6 million in the corresponding month of 2024.

Taxes on production and imports increased by €40.2 million (+11.3%) and amounted to €396.3 million, compared to €356.1 million in 2024, of which net VAT revenue increased by €8.4 million (+3.5%) to €249.7 million, compared to €241.3 million in 2024.

Revenue from taxes on income and wealth increased by €52.2 million (+9.7%) to €592.7 million, compared to €540.5 million in 2024. Property income increased by €2.8 million (+37.4%) and amounted to €10.3 million, compared to €7.5 million in 2024.

Revenue from the sale of goods and services increased by 56.6 million and amounted to €109.3 million, compared to €52. 7 million in 2024. Social contributions increased by €29.9 million (+7.8%) and amounted to €415.1 million, compared to €385.2 million in 2024. Current transfers increased by €14.5 million (+97.5%) and amounted to €29.3 million, compared to €14.8 million in 2024.

In contrast, capital transfers decreased by €1.8 million (-50.4%) to €1.8 million compared to €3.6 million in 2024.

Similarly, according to CySTAT, total expenditure in January 2025 increased by €103.9 million (+11.8%) to €988.0 million, compared to €884.1 million in the corresponding month of 2024.

In particular, it is noted that intermediate consumption increased by €0.5 million (+0.7%) to €77.6 million compared to €77.1 million in 2024. Compensation of employees (including imputed social contributions and pensions of civil servants) increased by €28.4 million (+9.9%) to €314.3 million, compared to €285.9 million in 2024. Social benefits increased by €49.6 million (+12.5%) to €445.7 million compared to €396.1 million in 2024. Interest payable increased by €0.6 million (+1.7%) to €35.5 million compared to €34.9 million in 2024. Subsidies increased by €4.4 million to €8.7 million compared to €4.3 million in 2024. Current transfers increased by €13.1 million (+21.3%) to €74.6 million compared to €61.5 million in 2024.

The capital account increased by €7.3 million (+29.8%) to €31.6 million, compared to €24.3 million in 2024, of which, gross capital formation increased by €2.7 million (+10.4%) to €28.1, million compared to €25.4 million in 2024.

It is also stressed that for the Local Government Subsector, estimates have been produced by CySTAT, due to non-submission of data by the competent authorities for the District Self-Government Organizations and the Municipal Authorities.

(Source: CNA)