In January 2024, Cyprus experienced a 35.6% increase in total motor vehicle registrations compared to the same month in 2023, according to data released by the Statistical Service. Specifically, total motor vehicle registrations in January 2024 reached 4,243, up from 3,128 in January 2023.

Saloon car registrations saw a 37.6% increase, totaling 3,430, compared to 2,493 in the same month of 2023. Of these saloon cars, 1,527 (44.5%) were new, while 1,903 (55.5%) were used cars. Rental cars, in particular, experienced a 25.8% decrease to 201 registrations.

Bus registrations increased to 14 in January 2024, up from 11 in the same month of 2023. Registrations of cargo transport vehicles rose to 440 in January 2024 compared to 350 in the corresponding month of 2023, marking a 25.7% increase. Specifically, light trucks increased by 25.6% to 353, heavy trucks by 9.5% to 46, road tractors (tow trucks) by 15.4% to 15, and rental vehicles by 85.7% to 26.

Registrations of mopeds under 50cc increased to 18 in January 2024 from 12 in the corresponding month of 2023. Meanwhile, motorcycle registrations over 50cc saw a 35.7% increase to 281 in January 2024 compared to 207 in the same month of 2023.

The Republic has offset a total of €535.5 million from the initiation of the debt offsetting process in November 2013 until December 2023, as announced by the Treasury of the Republic.

The Treasury released a Statement of Debt Offsets in accordance with Law 38(I)/2014 on Accounting and Fiscal Management and Financial Control of the Republic.

The analysis of the offsets reveals that the largest sum, amounting to €332.7 million, pertains to the Department of Taxation. Additionally, amounts corresponding to the Social Insurance Services and other governmental departments/services are €119.2 million and €83.6 million, respectively.

In December 2023, the offset amount totaled €17.3 million, while November 2023 saw €6.8 million, and December 2022 had €26.9 million in offsets.

Finally, it is noted that the total amount includes deductions from salaries/wages/pensions of outstanding fine warrants owed to the Cypriot Republic by state officials, hourly-paid governmental staff, and pensioners, totaling €1.1 million.