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Cyprus Economy: Assessing The €566.9 Million Surplus In January 2025

by News Editor

March 11, 2025

Cyprus has kicked off 2025 on a high note, recording a general government surplus of €566.9 million, equivalent to 1.6% of GDP, as per CySTAT’s preliminary fiscal results.

Compared to January 2024, which saw a surplus of €476.5 million (1.4% of GDP), this year marks a significant improvement. Revenue rose by €194.3 million, a 14.3% increase from 2024’s €1,360.6 million.

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Key Revenue Increasers

Taxes on production and imports grew by 11.3%, reaching €396.3 million. Notably, VAT netted €249.7 million, a 3.5% hike.

Income-related taxes added €52.2 million, totaling €592.7 million. Worried about property income scarcity? Good news: it soared by 37.4% to €10.3 million.

Assessment Of Expenditures

Expenditure in January 2025 rose to €988.0 million, up by 11.8% from 2024. Employee compensations witnessed a substantial increase, rising by €28.4 million. Social benefits followed suit, augmenting by €49.6 million.

While capital transfers saw a notable slump, the capital account experienced a healthy boost of 29.8%, reaching €31.6 million.

For those intrigued by Cyprus’ financial journey, comparing this growth to different economic metrics, such as Euro Area’s revised growth forecast, can provide deeper insights.

It’s worth mentioning that data absences have resulted in estimates being made for the Local Government Subsector. As Cyprus continues to navigate its financial landscape, these surpluses reflect a nation steadily poised for growth.

The Future Forbes Realty Global Properties

Sklavenitis Cyprus Sets A New Standard For Employee-Centric Benefits

by THEFUTURE.TEAM

September 12, 2025

Investing In Human Capital

In a bold move that underscores the growing importance of human capital in today’s business landscape, Sklavenitis Cyprus has taken innovative steps to ensure its workforce is both valued and supported. The supermarket chain has introduced a policy to pay a 14th salary to all employees—including those from Papantoniou Supermarkets—cementing its status as the sole retailer in Cyprus to implement such a comprehensive benefit.

A Significant Investment In People

This initiative is far from symbolic. With an estimated total cost of €2 million, it represents a committed investment in the company’s most valuable asset—its people. By providing an additional salary, Sklavenitis reinforces a culture of inclusivity and fairness, acknowledging every employee’s contribution to its success.

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Robust Benefits For Long-Term Stability

Complementary to the 14th salary, the company has launched a robust benefits program designed to address both financial and personal security. An Automatic Cost of Living Adjustment (ATA) of 12.56 per cent ensures that wages remain aligned with inflation, safeguarding real income stability for its team members.

Comprehensive Health And Life Support

Sklavenitis further enhances employee welfare through access to a Group Life and Health Insurance Plan and a Provident Fund co-funded by the employer. These measures not only provide immediate protection but also empower employees to plan confidently for the future.

Exclusive Perks And Incentives

The company extends its commitment beyond conventional benefits by offering store discounts, a birth allowance, and holiday gift vouchers valued at €100 during both Easter and Christmas. These additional perks enhance employee satisfaction and underline Sklavenitis’ people-first ethos.

A Strategy For Mutual Success

In an industry where employee engagement directly impacts customer satisfaction, Sklavenitis’ comprehensive approach stands out as both a progressive and strategic business decision. By investing in its workforce, the company not only nurtures a supportive workplace but also drives superior corporate performance, setting a new benchmark for responsible employment practices in Cyprus.