Cyprus posts EUR 1.6bn fiscal surplus in January–September, at 4.0% of GDP

Markets:

PPC announced that its wholly owned subsidiary, Kotsovolos, has signed an agreement to acquire the shares of Romanian technology and electrical retailer Flanco for EUR 35mn. According to the company’s announcement, by replicating Kotsovolos’ successful model in Romania, this move marks PPC’s entry into the country’s rapidly growing technology and electrical retail market, valued at EUR 3.6bn, through the acquisition of the second-largest physical store network in the country.
Source: Euronext Athens

Credia Bank announced that it has successfully completed the acquisition of a portfolio of re-performing, primarily residential mortgage loans, with total gross book value of approximately EUR 37.4mn. Loans form part of existing securitisations under the Hercules programme and have been serviced by Cepal Hellas.
Source: Euronext Athens

Macro/Political:

Preliminary data released by CyStat showed that the General Government fiscal balance for the period of January- September 2026 presented a surplus of EUR 1,609.7 mn (4.0% of GDP) compared to a surplus of EUR 1,167.6mn (3.0% of GDP) in the same period of 2025. Primary balance recorded a surplus of EUR 1,950.4 mn versus a surplus of EUR 1,499.6mn in the corresponding period of 2025. During Jan- Sep 2026 total expenditure increased by EUR 295.9mn (+2.9%) to EUR 10,482.1 mn from EUR 10,186.2 mn in the corresponding period of 2025. Total revenue increased by EUR 737.9mn (+6.5%) to EUR 12,091.8 mn compared to EUR 11,353.9mn in the same period of 2025. Particularly, in September 2026 the General government fiscal balance presented a surplus of EUR 10.2mn (Primary balance surplus EUR 43.8mn).
Source: CyStat