{"id":119720,"date":"2025-10-22T18:51:35","date_gmt":"2025-10-22T15:51:35","guid":{"rendered":"https:\/\/www.lamaisonestates.com\/?p=119720"},"modified":"2025-10-22T18:51:35","modified_gmt":"2025-10-22T15:51:35","slug":"cyprus-secures-e1-44-billion-fiscal-surplus-in-2024-bolstered-by-soaring-tax-revenue","status":"publish","type":"post","link":"https:\/\/www.lamaisonestates.com\/ru\/cyprus-secures-e1-44-billion-fiscal-surplus-in-2024-bolstered-by-soaring-tax-revenue\/","title":{"rendered":"Cyprus Secures \u20ac1.44 Billion Fiscal Surplus in 2024, Bolstered by Soaring Tax Revenue"},"content":{"rendered":"<p>The Republic of Cyprus recorded a robust fiscal surplus of \u20ac1.439 billion in 2024, equivalent to 4.1% of its GDP, according to audited data verified by the European Commission. The Cyprus Statistical Service also reported that this strong fiscal performance helped reduce public debt to \u20ac21.82 billion, or 62.8% of GDP.<\/p>\n<h2>The Fiscal Mechanics: How the Surplus Was Achieved<\/h2>\n<p>The impressive surplus was the result of a significant 7.4% surge in total state revenue, which far outpaced a minimal 1.0% rise in total government expenditure.<\/p>\n<p>Total revenues for 2024 climbed by over \u20ac1 billion to reach \u20ac14.75 billion. The primary driver of this increase was a massive 16.5% jump in revenue from taxes on income and wealth, which alone brought in an additional \u20ac539.8 million compared to 2023.<\/p>\n<p>Other key contributions to the revenue boost included:<\/p>\n<ul>\n<li>A 5.1% rise in taxes on production and imports (including a 6.4% increase in net VAT revenue).<\/li>\n<li>A 3.2% increase in social contributions.<\/li>\n<\/ul>\n<h2>Expenditure Kept in Check by Capital Cuts<\/h2>\n<p>While total government spending appeared almost flat (rising only 1.0%), this figure masks significant internal shifts.<\/p>\n<p>Expenditure on social transfers (+7.4%) and public sector salaries (+7.1%) both grew substantially during the year.<\/p>\n<p>However, these increases were almost entirely offset by major cutbacks in other areas. The government slashed capital expenditure (investment) by 23.6% (a drop of \u20ac372 million) and cut &#8220;other current expenditure&#8221; by 24.3% (a drop of \u20ac271.1 million), a move that helped maintain the strong surplus.<\/p>\n<p><i>Source: Stockwatch.com.cy<\/i><\/p>","protected":false},"excerpt":{"rendered":"<p>The Republic of Cyprus recorded a robust fiscal surplus of \u20ac1.439 billion in 2024, equivalent to 4.1% of its GDP, according to audited data verified by the European Commission. The Cyprus Statistical Service also reported that this strong fiscal performance helped reduce public debt to \u20ac21.82 billion, or 62.8% of GDP. The Fiscal Mechanics: How [&hellip;]<\/p>","protected":false},"author":9,"featured_media":119721,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[211],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/119720"}],"collection":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/comments?post=119720"}],"version-history":[{"count":1,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/119720\/revisions"}],"predecessor-version":[{"id":119722,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/posts\/119720\/revisions\/119722"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media\/119721"}],"wp:attachment":[{"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/media?parent=119720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/categories?post=119720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lamaisonestates.com\/ru\/wp-json\/wp\/v2\/tags?post=119720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}