Breaking news

Cyprus projects €1.13 billion fiscal surplus in 2025 budget

by THEFUTURE.TEAM

October 4, 2024

Cyprus is set to deliver a fiscal surplus of €1.13 billion in 2025, equivalent to 3.3% of GDP, according to the state budget presented to the House of Representatives.

The budget outlines an overall increase in revenues of 6.2% in 2025, with a slight 1.2% reduction in expenditures compared to 2024.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Total state expenditure for 2025 is projected at €12.93 billion, encompassing debt repayments, interest, and investments. The breakdown includes €3.53 billion for the Fixed Fund, €7.85 billion in regular expenditures, and €1.55 billion for development expenses. This represents a slight decrease from the €13.1 billion allocated in 2024.

In terms of revenues (excluding financial flows), the government forecasts a 6.2% increase, bringing the total to €10.31 billion in 2025, compared to €9.71 billion in 2024. The main sources of revenue will come from direct and indirect taxation, estimated at €8.48 billion—or 82% of total revenues. The remaining 18% will be generated from non-tax income, including the sale of goods and services, rental income, and transfers.

Direct tax revenues are projected to rise by 4.9% to €3.92 billion, while indirect taxes are expected to increase by 5.6%, totalling €4.56 billion. Non-tax revenues are forecast to see a significant 10.3% increase, reaching €1.83 billion.

While there is a slight 1% decrease in personnel-related expenditures, totalling €3.62 billion in 2025, operational expenditures are expected to surge by 21.4%, reaching €1.42 billion. This is attributed to increases in reserve funds, defence, policing, and consulting services.

Transfer payments—including social benefits, grants to public and private organizations, and contributions to the EU budget—are expected to grow by 5.3%, reaching €3.99 billion. The largest increases in 2025 will be in contributions to the General Healthcare System (GeSY) and social security funds.

Capital expenditures, which cover co-financed projects, land and equipment purchases, and building renovations, are projected to rise by 4% in 2025 to €1.14 billion. Meanwhile, debt service expenditures are expected to fall by 18.6%, dropping to €2.75 billion in 2025 from €3.38 billion in 2024.

Steady growth until 2027

Looking at key economic indicators, the Cypriot economy is expected to grow steadily through 2027. GDP for 2025 is projected at €33.86 billion, with an annual growth rate of 3.1%. By 2027, GDP is forecast to reach €37.54 billion, with growth rates of 3.2% and 3.3% in 2026 and 2027, respectively.

Unemployment is set to decline from 5.0% in 2024 to 4.5% by 2027, while inflation is expected to remain stable at 2.0% annually from 2025 to 2027. The fiscal surplus is forecast to remain strong, at 3.3% of GDP in 2025, declining slightly to 3.1% by 2027.

The primary surplus is expected to reach 4.8% of GDP in 2025 and stabilize at 4.4% by 2027. Meanwhile, public debt as a percentage of GDP is projected to decline from 69.3% in 2024 to 64.2% in 2025 and 53.5% by 2027.

Capital expenditures are expected to peak at €1.39 billion (or 4.1% of GDP) in 2025, before dropping to 3.1% of GDP by 2027.

The Future Forbes Realty Global Properties

The Bitcoin Family’s Bold Shift: Embracing Decentralization And Redefining Crypto Security

by THEFUTURE.TEAM

June 8, 2025

In 2017, the Taihuttu family liquidated all their assets to bet on bitcoin—transforming themselves into pioneers of a decentralized, nomadic lifestyle. Now, as a family of five, they navigate global terrains while firmly rejecting traditional banking methods.

Reshaping Crypto Security In A High-Risk Arena

Amid an escalating wave of targeted kidnappings and assaults on cryptocurrency executives, the Taihuttu family has overhauled its security strategy. Rejecting conventional hardware wallets, they employ a hybrid model that integrates both analog and digital safeguards. A single 24-word bitcoin seed phrase is divided into four segments and secured across multiple continents, ensuring that even if partial exposure occurs, the entire portfolio remains uncompromised.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Decentralization: A Strategic Imperative

Concerns over centralized custody—from vulnerabilities in hardware wallets to breaches in well-known digital vaults—have propelled the family toward absolute control of their assets. By storing encrypted seed phrases in blockchain-based services and fireproof steel plates globally, they illustrate a model of autonomy that echoes the early tenets of bitcoin ideology. This decentralized approach minimizes trust in third parties, a critical factor in today’s volatile market.

Navigating Global Security Threats

Recent violent incidents targeting crypto credentials—including intricate kidnapping schemes—reflect a disturbing trend within the industry. Executives like JP Richardson from Exodus now urge users to adopt multi-signature strategies and reduce hot wallet exposures. The Taihuttu family has taken these recommendations further; their proactive measures include not only multiple layers of physical and digital encryption but also strategically relocating from areas considered high-risk, such as abstaining from France entirely.

Innovative Technologies For An Evolving Landscape

Beyond traditional multi-signature approaches, the adoption of multi-party computation (MPC) marks an evolution in risk mitigation. This technology divides cryptographic keys into encrypted shares, ensuring that no single party holds a complete key—a vital feature as the security demands of the digital asset market intensify. With roughly 65% of their bitcoin in cold storage, the family’s method stands as a robust countermeasure against potential cyber attacks and physical threats.

The Taihuttu family’s journey provides a compelling blueprint for self-sovereignty in an era marked by both extraordinary risk and unprecedented opportunity. Their meticulous strategy underscores the growing need for decentralized security measures amid a rapidly maturing cryptocurrency ecosystem.