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Cyprus Initiative Aims To Strengthen Women’s Financial Literacy And Independence

Women in leadership roles across Cyprus will gather in Nicosia on November 10 to discuss financial empowerment and ways to narrow the financial literacy gap between women and men. The initiative, led by the Central Bank of Cyprus and the Cyprus Financial Literacy and Education Committee (CyFLEC), aims to build confidence in financial decision-making and extend practical knowledge beyond the event itself.

Building Confidence Through Financial Knowledge

Held at The Landmark Nicosia, Autograph Collection, the event, titled “Financial Literacy for Cypriot Women,” will bring together women with influential roles in Cypriot society. Organisers say the gathering will create space for discussion about financial independence, informed decision-making and the practical skills women need to manage their finances with greater confidence.

Under the theme “Learn, Decide, Progress,” the initiative also seeks to establish a network through which participants can share financial knowledge and experience across their professional, social and local communities. The goal is for attendees to become ambassadors of financial education, encouraging more women to take an active role in financial decisions.

From Discussion To Practical Action

The programme will open with remarks from Central Bank of Cyprus Governor Christodoulos Patsalides, who chairs CyFLEC, and Education Minister Athena Michaelidou, a member of the committee’s board of directors.

Philip Dennis, a professor at Durham University in the United Kingdom, will deliver a keynote address on gender differences in financial decision-making. The programme will then examine the financial literacy gap and the practical steps that could help reduce it.

A roundtable discussion, “Women and Financial Empowerment: The Persistent Gap and How We Can Bridge It,” will be moderated by Pani Karamanou, head of the Central Bank’s Financial Stability and Resolution Directorate-General. Participants will include Gender Equality Commissioner Josie Christodoulou and Financial Commissioner Valentina Georgiadou, who is also a financial literacy ambassador.

Extending The Conversation Beyond Nicosia

For CyFLEC, the event’s value will depend not only on the discussion in the room but also on what participants share afterward. By building a wider network of women equipped to pass on financial knowledge, the organisers hope to support better-informed decisions across communities throughout Cyprus.

Supported by the Moneypedia financial education platform, the event will take place from 10 a.m. to noon on Tuesday, November 10.

Cyprus Government Surplus Rises To €1.61 Billion In First Nine Months Of 2026

Cyprus recorded a general government surplus of €1.61 billion in the first nine months of 2026, equal to 4.0% of gross domestic product, as revenue growth outpaced the rise in public spending. Higher receipts from income taxes, social contributions and value-added tax (VAT) drove the improvement, while lower capital expenditure helped restrain spending.

Preliminary figures released Tuesday by the Statistical Service of Cyprus show the surplus rose to €1.17 billion, or 3.0% of GDP, up from € 442.1 million in the same period of 2025.

Total government revenue increased 6.5% to €12.09 billion, while expenditure rose 2.9% to €10.48 billion.

Key Fiscal MeasureJanuary–September 2025January–September 2026
Total revenue€11,353.9 million€12,091.8 million
Total expenditure€10,186.2 million€10,482.1 million
Government surplus€1,167.6 million€1,609.7 million
Surplus as a share of GDP3.0%4.0%

Income Taxes And VAT Lead Revenue Growth

Taxes on income and wealth made the largest contribution to the increase in revenue. Receipts in this category climbed by €442.2 million, or 15.3%, to €3.34 billion, compared with €2.89 billion a year earlier.

Social contributions rose by €235 million, or 6.6%, to €3.78 billion. Taxes on production and imports increased by €251.5 million, or 7.2%, reaching €3.77 billion.

Net VAT receipts, after refunds, totalled €2.64 billion, up €293.1 million, or 12.5%, from €2.35 billion in the first nine months of 2025.

Some Revenue Streams Decline

Not all revenue categories moved higher. Capital transfers fell by €74.6 million to €96.7 million, while current transfers declined by €71.6 million, or 20.5%, to €278.2 million.

Revenue from services slipped 1.0% to €743.5 million. Interest and dividend receipts dropped by €37 million, or 28.6%, to €92.4 million.

Social Benefits And Personnel Costs Increase

On the expenditure side, social benefits rose by €199.6 million, or 4.9%, to €4.27 billion. Compensation of employees—which includes imputed social contributions and public-sector pensions—increased by €108.3 million, or 3.8%, to €2.99 billion.

Intermediate consumption, covering goods and services used in the delivery of public services, rose by €114.3 million, or 11.0%, to €1.16 billion. Interest payments increased by €8.7 million, or 2.6%, to €340.7 million. Current transfers were up €68.7 million, or 10.6%, at €714.7 million.

Lower Capital Spending Limits Expenditure Growth

The overall increase in spending was tempered by a decline in capital expenditure. Capital-account spending fell by €189.9 million, or 16.9%, to €936.2 million from €1.13 billion in the same period last year.

Investment in fixed capital declined by €94.1 million, or 12.1%, to €686.4 million. Other capital transfers fell by €95.8 million, or 27.7%, to €249.8 million. Subsidies also decreased, dropping by €13.9 million, or 15.5%, to €75.8 million.

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