The Association of Cyprus Banks (ACB) expanded its financial literacy initiatives during 2025 and the first half of 2026, supporting national efforts to improve financial education as Cyprus experienced strong economic growth alongside mounting social and economic pressures.

In an article on Banking Insight, the association’s online publication, the association said its work complemented the National Strategy for Financial Literacy and Education coordinated by the Cyprus Financial Literacy and Education Committee (CyFLEC), which is chaired by the Central Bank of Cyprus.

The ACB provided expertise, trainers and educational resources aimed at turning the national strategy into practical programmes for students, young adults and other members of the public.

The initiatives came as Cyprus recorded real economic growth of approximately 3.5 per cent in 2025, placing it among the faster-growing economies in the European Union.

Growth was driven primarily by the services sector, which continued to account for the largest share of national output.

The labour market also strengthened significantly during 2025, with unemployment falling to historically low levels approaching full employment by European standards.

Employment growth was particularly strong in construction, tourism and professional services, although the expansion also contributed to labour shortages in several sectors.

Businesses increasingly relied on foreign workers to meet production and service needs, highlighting one of the challenges accompanying the economy’s rapid growth.

Inflation declined compared with previous years, easing pressure on household budgets and supporting domestic consumption.

Public finances remained stable, supported by what the ACB described as responsible fiscal policy and investment through European recovery programmes focused on digital transformation and environmental sustainability.

Against this backdrop, financial literacy emerged as an increasingly important national priority, with the government and CyFLEC working to incorporate financial education into schools and adult education.

Since 2025, financial literacy lessons have been integrated into secondary education, giving students practical knowledge in areas including budgeting, saving and responsible borrowing.

CyFLEC has coordinated the wider national strategy with the aim of ensuring that young people, adults and vulnerable households have access to structured financial education.

The ACB has supported those efforts through several programmes designed to make financial education more practical and accessible.

Its “More than Money” programme targets secondary school students through interactive workshops and classroom exercises covering budgeting, saving and responsible financial decision-making.

“Economics for Success” is aimed at young adults preparing to enter the workforce and covers employment income, taxation, loans, basic investment concepts and long-term financial planning.

The ACB has also participated in the European Money Quiz, a competition-style programme through which students test their knowledge of banking, personal finance and European economic concepts in a more interactive and gamified setting.

The association said these initiatives were intended to ensure financial literacy was not simply theoretical, but instead provided people with practical skills they could apply in their everyday lives.

The programmes also align with European financial education objectives while complementing the broader work being carried out through CyFLEC.

The ACB said the period covering 2025 and the first half of 2026 demonstrated that Cyprus had remained on a path of steady economic expansion while undergoing gradual social and educational changes.

However, the association highlighted housing affordability, labour shortages and external economic risks as continuing challenges requiring sustained policy attention.

The combination of coordinated financial education and economic resilience could help strengthen the ability of households and the wider economy to withstand future pressures, according to an assessment published by ACB Finance and Operations Department manager Vasso Michaelidou.

The article also pointed to migration trends, housing pressures and modernisation policies as factors shaping Cyprus’ economic and social environment during the aforementioned period.