Cyprus Central Bank And Education Ministry Champion Financial Literacy On World Savings Day

by THEFUTURE.TEAM

November 7, 2025

The Central Bank of Cyprus (CBC), in partnership with the Education Ministry, is set to mark World Savings Day with a dedicated educational event. Scheduled for November 10, this initiative commemorates the global celebration observed on October 31, reinforcing the importance of cultivating savings and responsible financial behavior early in life.

Financial Workshops For Primary Pupils

Taking place at Nuevo Campo in Latsia, the event will commence at 8:30 AM. It is specifically designed for sixth-grade pupils from various districts, aiming to instill fiscal prudence and an understanding of long-term financial security. The program includes four thematic workshops that promise a hands-on approach to financial education.

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Expert Instruction And Practical Insights

These workshops will be led by secondary school teachers alongside trainers from Junior Achievement Cyprus, a distinguished organization known for its expertise in financial education and entrepreneurship programs. Their participation underscores a commitment to equipping young minds with the tools necessary for sound financial decision-making.

The Global Legacy Of World Savings Day

Originally established in 1924 at the International Savings Bank Congress in Milan, Italy, World Savings Day — also known as World Thrift Day — has grown into a global movement. The celebration not only promotes the habit of saving but also emphasizes financial literacy, prudent spending, and long-term planning. In today’s climate of economic uncertainty and rising living costs, such initiatives are critical for fostering resilience at both individual and national levels.

Conclusion

This collaborative event between the CBC and the Education Ministry is a strategic effort to instill financial discipline among Cyprus’ younger generation, ensuring a more financially aware and secure future. By promoting these essential habits early, Cyprus sets a benchmark for global financial literacy and prudent economic planning.

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Cyprus Records EU’s Largest Quarterly Drop In Public Debt Ratio

by THEFUTURE.TEAM

October 21, 2026

Cyprus recorded the European Union’s largest quarterly decline in government debt as a share of GDP in the second quarter of 2026, as its debt burden continued to fall while borrowing levels across the bloc increased, according to Eurostat.

Debt Ratio Falls To 48.5%

Cyprus’ government debt fell to 48.5% of GDP at the end of June, down from 51.5% in the first quarter and 58.1% a year earlier.

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In absolute terms, debt declined to €19.2 billion from €20.03 billion at the end of March and €21.7 billion in June 2025. Cyprus also recorded the EU’s second-largest annual reduction in its debt-to-GDP ratio, after Greece.

Cyprus Outpaces Other EU Member States

Greece recorded the largest annual decline, at 11.2 percentage points, followed by Cyprus at 9.5 points, Slovenia at 4.5 points and Portugal at 3.4 points.

Quarterly, Cyprus led the bloc, ahead of Greece, where the ratio fell by 2.7 percentage points, and Hungary, which recorded a 2-point decline.

By contrast, the EU’s debt-to-GDP ratio increased to 82.9% in the second quarter from 82.5% in the first. The euro area ratio rose to 88.8% from 88.4%. Compared with the same period in 2025, the figures increased from 81.4% and 87.3%, respectively.

Debt Levels Remain High Across Europe

Greece had the EU’s highest debt ratio at the end of June, at 140.8% of GDP, followed by Italy at 139.9%, France at 119.1%, Belgium at 110.2% and Spain at 101.4%.

The lowest ratios were recorded in Estonia at 26.1%, Denmark at 27.1%, Luxembourg at 28.2% and Bulgaria at 28.7%.

Compared with the first quarter, debt ratios rose in 15 member states and fell in 10, while the Netherlands and Spain remained unchanged. Poland recorded the largest quarterly increase, at 3 percentage points.

Cyprus Maintains A Government Surplus

Cyprus’ debt reduction comes alongside a strong fiscal position. In 2025, the country recorded a government surplus of 3.6% of GDP, the highest in the EU, according to audited figures published by Cystat and Eurostat. Government debt at the end of that year stood at €20.05 billion, or 52.3% of GDP.

However, Cyprus’ seasonally adjusted government surplus narrowed to 3.3% of GDP in the second quarter of 2026, from 3.8% in the first quarter.

The figures come from Eurostat’s latest government deficit and debt release, based on member states’ second 2026 notifications under the EU’s Excessive Deficit Procedure and compiled under the European System of Accounts 2010 methodology.

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