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Cyprus projects €1.13 billion fiscal surplus in 2025 budget

by THEFUTURE.TEAM

October 7, 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 on Thursday. The budget outlines an overall increase in revenues of 6.2% in 2025, with a slight 1.2% reduction in expenditures compared to 2024.

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.

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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.

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Elevating Infant Nutrition: Nara Organics Unveils Premium Organic Formula

by THEFUTURE.TEAM

July 30, 2025

The Origins Of A Vision

When Esther Hallam welcomed her daughter Nara into the world, she immediately confronted a formidable challenge: identifying a trustworthy, high-quality organic infant formula. In a U.S. market dominated by cost-cutting practices—such as the use of skim milk supplemented with oils to meet nutritional standards—Hallam observed a disconnect between established availability and uncompromised quality. Research linking corn syrup to obesity and palm oil to reduced calcium absorption only reinforced her resolve to seek a safer alternative.

Redefining Industry Standards

Frustrated by the limitations of existing options, Hallam devoted seven years to developing an organic, whole-milk formula with the expertise of leading scientists and pediatric nutritionists. Nara Organics distinguishes itself by offering the highest percentage of milk fat of any formula on the U.S. market and a significantly reduced reliance on plant-based oils. The carefully selected blend of organic sunflower, coconut, and rapeseed oils not only meets nutritional needs but also minimizes potential health risks inherent to additives like palm oil, soy, and corn syrup.

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Manufacturing Excellence In Germany

Rather than manufacturing domestically—a decision influenced by previous concerns over Cronobacter contamination in American facilities—Nara Organics leverages the advanced, oxygen-controlled production environment of a German facility, widely regarded as the birthplace of powdered infant formula. Chief Marketing Officer Meika Hollender detailed that their unique manufacturing process, which minimizes oxygen exposure during can sealing, substantially extends shelf life and preserves formula integrity, setting a new standard in infant nutrition.

Strategic Investment And Market Impact

Backed by $32 million from prominent investors including AlleyCorp, BBG Ventures, Corazon Ventures, Gingerbread Capital, and Torch Capital, Nara Organics has also garnered support from high-profile celebrity investors such as Serena Williams, Gina Rodriguez, and Nicky Hilton. This robust investment positions the company at the vanguard of an organic infant formula market projected to grow from $20.7 billion in 2023 to $37 billion by 2032.

Enhancing Consumer Accessibility And Community Commitment

Nara Organics is available for purchase directly via its website, subscription models, and a dedicated mobile app that assists parents in tracking essential aspects of infant care. To underscore its commitment to community well-being, the company is donating over 1,400 cans of formula to the Good+ Foundation, which strives to alleviate multi-generational poverty by providing essential services to under-resourced families.

By merging state-of-the-art production with a commitment to organic, high-quality ingredients, Nara Organics is poised to redefine the benchmarks of infant nutrition in a competitive, evolving market.