European Investment Bank Invests In Expanding Electric Vehicle Charging Infrastructure In Greece And Cyprus

by THEFUTURE.TEAM

September 9, 2025

Robust Growth In Cyprus’ Automotive Sector

Recent data from Cyprus underscores a marked acceleration in the adoption of sustainable vehicles. An analysis by the state statistical service reveals that between January and August 2025, electric vehicle registrations climbed from 3.3% to 4.8%, while hybrid vehicles experienced an even steeper increase—from 36.8% to 43.6%. This upward trend comes amidst a modest overall rise in vehicle registrations and a notable pivot away from traditional petrol and diesel-powered cars.

Shifting Trends In Vehicle Registrations

Comprehensive insights into the sector delineate a rebalancing in transport preferences. Passenger saloon cars saw a marginal increase, and rental vehicles, particularly passenger saloon and rental goods vehicles, reported significant gains. Conversely, declines were noted in registrations of motor coaches, buses, and mopeds under 50cc. Such trends underscore an evolving market dynamic, with consumers gravitating towards more sustainable and economically efficient transport solutions.

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EIB Financing Fuels EV Charging Expansion

In a strategic move to bolster the infrastructure supporting this green transition, the European Investment Bank (EIB) announced financing of up to €17.5 million to Greek company Joltie SA. Funded under the InvestEU programme, this initiative is designed to establish approximately 2,200 new electric vehicle charging points across Greece and Cyprus by 2029. This investment not only aims to decarbonise road transport but also reinforces the European Union’s broader climate and economic cohesion objectives in Southeast Europe.

EIB Vice-President Ioannis Tsakiris emphasized the critical role of this project in accelerating the region’s sustainable mobility agenda. “Our collaboration with Joltie will strengthen EV charging infrastructure in Greece and Cyprus, contributing to more accessible and economically viable electric mobility,” Tsakiris stated. The bank envisions that this infusion of capital will galvanize further private investment and enhance local capabilities to meet ambitious climate action goals.

Founded in 2022 and based in Attica, Joltie SA is rapidly emerging as a pivotal player in the EV charging landscape, integrating charging equipment manufacturing with the operation of its own network. This dual capability has enabled the company to install a substantial fraction of the charging points in Greece, thereby positioning it at the forefront of Europe’s sustainable mobility evolution.

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Cyprus Government Surplus Rises To €1.61 Billion In First Nine Months Of 2026

by THEFUTURE.TEAM

November 5, 2026

Cyprus recorded a general government surplus of €1.61 billion in the first nine months of 2026, equal to 4.0% of gross domestic product, as revenue growth outpaced the rise in public spending. Higher receipts from income taxes, social contributions and value-added tax (VAT) drove the improvement, while lower capital expenditure helped restrain spending.

Preliminary figures released Tuesday by the Statistical Service of Cyprus show the surplus rose to €1.17 billion, or 3.0% of GDP, up from € 442.1 million in the same period of 2025.

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Total government revenue increased 6.5% to €12.09 billion, while expenditure rose 2.9% to €10.48 billion.

Key Fiscal Measure	January–September 2025	January–September 2026
Total revenue	€11,353.9 million	€12,091.8 million
Total expenditure	€10,186.2 million	€10,482.1 million
Government surplus	€1,167.6 million	€1,609.7 million
Surplus as a share of GDP	3.0%	4.0%

Income Taxes And VAT Lead Revenue Growth

Taxes on income and wealth made the largest contribution to the increase in revenue. Receipts in this category climbed by €442.2 million, or 15.3%, to €3.34 billion, compared with €2.89 billion a year earlier.

Social contributions rose by €235 million, or 6.6%, to €3.78 billion. Taxes on production and imports increased by €251.5 million, or 7.2%, reaching €3.77 billion.

Net VAT receipts, after refunds, totalled €2.64 billion, up €293.1 million, or 12.5%, from €2.35 billion in the first nine months of 2025.

Some Revenue Streams Decline

Not all revenue categories moved higher. Capital transfers fell by €74.6 million to €96.7 million, while current transfers declined by €71.6 million, or 20.5%, to €278.2 million.

Revenue from services slipped 1.0% to €743.5 million. Interest and dividend receipts dropped by €37 million, or 28.6%, to €92.4 million.

Social Benefits And Personnel Costs Increase

On the expenditure side, social benefits rose by €199.6 million, or 4.9%, to €4.27 billion. Compensation of employees—which includes imputed social contributions and public-sector pensions—increased by €108.3 million, or 3.8%, to €2.99 billion.

Intermediate consumption, covering goods and services used in the delivery of public services, rose by €114.3 million, or 11.0%, to €1.16 billion. Interest payments increased by €8.7 million, or 2.6%, to €340.7 million. Current transfers were up €68.7 million, or 10.6%, at €714.7 million.

Lower Capital Spending Limits Expenditure Growth

The overall increase in spending was tempered by a decline in capital expenditure. Capital-account spending fell by €189.9 million, or 16.9%, to €936.2 million from €1.13 billion in the same period last year.

Investment in fixed capital declined by €94.1 million, or 12.1%, to €686.4 million. Other capital transfers fell by €95.8 million, or 27.7%, to €249.8 million. Subsidies also decreased, dropping by €13.9 million, or 15.5%, to €75.8 million.

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