The government balance in Cyprus for January-April 2024 had a surplus of €665.2 million, almost double compared to the same period in 2023. This surplus was due to an increase in revenues outpacing expenditures, giving the Government more flexibility in its social policy.
Cyprus’ general government recorded an increased surplus of €665.2 million during the first four months of 2024, attributed to a significant increase in government revenues by 17.3 per cent, outpacing expenditure growth.
The Cyprus government’s surplus for the period January-March 2024 reached €523 million, equivalent to 1.7% of the GDP.
Government surplus tops €8.3bn as corporate tax receipts reach record levels.