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Cyprus Fiscal Surplus Reaches €538.8 Million In January 2026

by THEFUTURE.TEAM

March 16, 2026

Robust Fiscal Performance In Early 2026

Cyprus recorded a general government fiscal surplus of €538.8 million in January 2026, equal to 1.5% of GDP, according to the Cyprus Statistical Service (Cystat). The figure is lower than January 2025, when the surplus reached €569.3 million, or 1.6% of GDP.

Revenue Gains Driven By Income And Wealth Taxes

Total government revenue reached €1.55 billion in January 2026. This represents a 1.0% increase from €1.53 billion recorded a year earlier. Taxes on income and wealth increased by €71.2 million to €657.0 million, up from €585.8 million in January 2025. Capital transfers also increased, rising to €5.2 million from €2.9 million, a 79.3% increase.

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Mixed Trends In Tax Categories

Taxes on production and imports declined by €24.0 million to €363.4 million, down from €387.4 million a year earlier. The decrease represents a 6.2% decline. Net revenue from value-added tax increased by €9.2 million. VAT revenue reached €258.9 million compared with €249.7 million in January 2025, an increase of 3.7%.

Changes In Social Contributions And Property Income

Social contributions declined by €7.8 million to €423.4 million. This represents a decrease of 1.8% compared with January 2025. Property income also declined, falling to €4.9 million from €7.1 million a year earlier. The decrease represents a 31.0% drop.

Changes In Current Transfers And Service Revenues

Current transfers declined by €8.9 million to €12.1 million, compared with €21.0 million in January 2025. This represents a decrease of 42.4%. Revenue from the sale of goods and services also declined. The figure fell to €85.5 million from €101.4 million, a decrease of 15.7%.

Government Spending And Capital Investments

Total government expenditure increased to €1.01 billion in January 2026. The figure represents a 4.7% increase from €967.5 million a year earlier. Intermediate consumption increased by €10.2 million to €83.5 million, representing a 13.9% increase. Social benefits rose by 4.5% to €450.0 million, compared with €430.7 million in January 2025. Current transfers also increased, rising by 30.2% to €93.6 million.

Capital Account And Fiscal Adjustments

The capital account increased to €37.4 million from €33.2 million a year earlier. This represents a 12.7% increase. Gross capital formation increased by €0.6 million, a 2.3% rise. Other capital expenditure increased by €3.6 million to €10.4 million, representing a 52.9% increase. Compensation of employees, interest payments and subsidies declined during the period.

Data Reporting

Cystat said some fiscal data for general government entities were estimated due to incomplete submissions from certain authorities. The figures reflect fiscal developments for January 2026 based on available data from government entities.

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Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

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Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.