General Government surplus of €654.2m in first two months of 2025

Α General Government surplus of €654.2m (1.9% of GDP) for the period of January-February 2025, is indicated according to the preliminary fiscal results, prepared by CySTAT.

In comparison, in the same period of 2024 a surplus of €531.7m (1.6% of GDP) was recorded during the period of January-February 2024.

Revenue

During the period of January-February 2025, total revenue increased by €303.3m (+12.5%) and amounted to €2,724.6m, compared to €2,421.3m in the corresponding period of 2024.

In detail, taxes on production and imports increased by €92.5m (+12.4%) and amounted to €835.7m, compared to €743.2m in 2024, of which net VAT revenue increased by €35.8m (+6.8%) and amounted to €559m, compared to €523.2m in 2024.

Revenue from taxes on income and wealth increased by €95.1m (+13.2%) and amounted to €816.8m, compared to €721.7m in 2024.

Property income increased by €0.1m (+0.6%) and amounted to €13m, compared to €12.9m in 2024.

Revenue from the sale of goods and services increased by €70.5m (+52.3%) and amounted to €205.3m, compared to €134.8m in 2024.

Social contributions increased by €68.9m (+9.4%) and amounted to €802.9m, compared to €734m in 2024.

On the contrary, current transfers decreased by €17.5m (-26.4%) to €48.9m, from €66.4m in 2024.

Capital transfers decreased by €6.3m (-75.9%) to €2m, from €8.3m in 2024.

Expenditure

During the period of January-February 2025, total expenditure increased by €180.8m (+9.6%) and amounted to €2,070.4m, compared to €1,889.6m in the corresponding period of 2024.

In detail, intermediate consumption increased by €12.7m (+6.6%) and amounted to €203.8m, compared to €191.1m in 2024.

Compensation of employees, including imputed social contributions and pensions of civil servants, increased by €43.4m (+7.3%) and amounted to €637.6m, compared to €594.2m in 2024.

Social benefits increased by €71.5m (+9.1%) and amounted to €861m, compared to €789.5m in 2024.

Interest payable increased by €6.6m (+10.3%) and amounted to €70.6m, compared to €64m in 2024.

Subsidies increased by €1.7m (+20.7%) and amounted to €9.9m, compared to €8.2m in 2024.

The capital account increased by €48.9m (+49.5%) and amounted to €147.7m, compared to €98.8m in 2024, of which gross capital formation increased by €10.1m (+10.1%) and amounted to €110.1m, compared to €100m in 2024.

On the contrary, current transfers decreased by €4m (-2.8%) to €139.8m, from €143.8m in 2024.

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

(Source: CNA)