Greece Posts €593.4 Million Fiscal Surplus In Early 2026

The Greek government recorded a modest contraction in its fiscal surplus during the January-April 2026 period, with figures falling to €593.4 million compared to €614 million in the corresponding period of 2025. This development comes as the surplus as a percentage of GDP slipped from 1.7% to 1.5%, according to preliminary data released by the Hellenic Statistical Authority.

Robust Revenue Growth Driven By Tax And Social Contributions

Total government revenue increased by 4% year-on-year to €4.995 billion from €4.801 billion. Income and wealth tax receipts rose by 10.3% to €1.292 billion, while social contributions increased by 8.3% to €1.687 billion. Revenue from taxes on production and imports climbed 2.9% to €1.533 billion, and net VAT receipts grew 5.4% to €1.047 billion. The figures point to continued strength in tax collection despite a softer fiscal balance.

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Offsetting Revenue Gains With Declines In Other Income Streams

Growth in tax revenues was partly offset by weaker performance in several other income categories. Revenue from interest and dividends declined by 27.8% to €61.2 million, while current transfers fell 31.2% to €87 million. Income from fees and services also decreased by 12% to €318.4 million.

Increased Expenditures Reflect Shifts In Spending Priorities

Government expenditure rose by 5.1% to €4.402 billion, compared with €4.187 billion in the corresponding period of 2025. Social benefits recorded the largest increase, rising 6.4% to €1.824 billion. Personnel costs increased by 1.9% to €1.295 billion, while interest payments climbed 19.2% to €177.3 million. Other current expenditures rose by 13.6% to €331.7 million, and intermediate consumption increased by 5.1% to €431.2 million.

Capital Spending And Subsector Results

Capital expenditure edged down 0.9% to €320 million. Gross fixed capital formation fell 3.5% to €244.3 million, while subsidies declined by 19.2% to €23.5 million. At the subsector level, the central government surplus narrowed to €166.8 million from €244 million a year earlier. Social Security Organizations improved their surplus to €436.4 million from €389.2 million, while local government deficits decreased to €9.8 million from €19.2 million. The figures suggest that while revenue growth remains resilient, rising spending pressures continue to weigh on Greece’s overall fiscal position.

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Cyprus Ranks Among The EU’s Fastest-Growing Populations In 2025

by THEFUTURE.TEAM

July 22, 2026

Cyprus Emerges As A Demographic Outlier In Europe

Cyprus recorded one of the fastest-growing populations in the European Union in 2025, according to the latest Eurostat data. With population growth of 13.7 per 1,000 inhabitants, the island ranked second among the bloc’s 27 member states, behind only Malta (24.1) and ahead of Luxembourg (13.1).

The figures set Cyprus apart at a time when much of Europe is facing ageing populations, declining birth rates and mounting labour shortages.

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A Different Demographic Story

Population growth across the EU remained modest in 2025, increasing by just 1.6 per 1,000 people. The picture, however, was far from uniform. Sixteen member states recorded population gains, while eleven experienced declines.

Malta, Cyprus and Luxembourg posted the strongest growth rates, while Latvia (-8.3), Estonia (-6.8) and Hungary (-5.4) recorded the steepest population losses.

As of January 1, 2026, Cyprus had a population of 996,600. While one of the EU’s smallest member states, it continues to outperform many larger economies on demographic growth.

Growth Driven By Births And Migration

Cyprus stands out because its population is expanding through both natural increase and migration, a combination that has become increasingly uncommon across Europe.

The country was one of only six EU member states where births exceeded deaths in 2025, joining Denmark, Ireland, Luxembourg, Malta and Sweden. Across the EU as a whole, the opposite was true: 4.81 million deaths were recorded against 3.46 million births, leaving the bloc with a natural population decline of roughly 1.35 million people.

Migration more than compensated for that shortfall. Net migration added around 2.05 million people across the EU in 2025, reinforcing its role as the bloc’s primary source of population growth.

Cyprus ranked among the strongest performers here as well. Net migration reached 11.3 people per 1,000 inhabitants, trailing only Malta (23.9) and Spain (11.8).

Why The Numbers Matter

Demographic trends increasingly shape economic performance. Population growth influences labour supply, consumer demand and the long-term sustainability of pension systems and public finances.

For most European countries, migration has become essential to offset declining birth rates. Cyprus is unusual because it combines strong inward migration with positive natural population growth, giving it a demographic profile that few EU members currently share.

Whether that advantage translates into stronger long-term economic performance will depend on how effectively the country integrates new residents, expands its workforce and converts population growth into higher productivity.

As Europe searches for ways to sustain growth despite an ageing population, Cyprus offers an early example of how demographic resilience can become an economic advantage.

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