uncollectable debts — The Cyprus Treasury has officially written off over €1 million in overdue debts and uncollected revenue for the year 2025.
- uncollectable debts — The Cyprus Treasury has officially written off over €1 million in overdue debts and uncollected revenue for the year 2025.
On Wednesday, the treasury detailed that the total amount written off reached €1,050,388.77. This decision is part of a strategy to streamline decision-making processes by prioritising the collection of debts that have a higher likelihood of recovery.
Uncollectable debts: Focus on Recoverable Arrears
According to the treasury’s announcement, the write-off aims to provide a clearer picture of the state’s financial assets. Of the total amount written off, €1,033,955.72 was attributed to sums exceeding €1,000, while €16,433.05 was for debts below that threshold.
Comparative Figures from Previous Years
When compared to the previous year, 2024 saw a significantly higher figure of €2,170,293.30 written off. In that instance, €2,147,063.55 was associated with debts exceeding €1,000, and €23,229.75 was for smaller amounts.
Implications of the Write-Off
This strategy reflects an effort by the Cyprus Treasury to enhance efficiency in revenue collection and to manage public finances more effectively. By focusing on recoverable debts, the treasury hopes to reinforce its financial standing in the face of ongoing economic challenges.
