Cyprus Central Bank has released a clear glossary of financial terms

The Central Bank of Cyprus has officially announced the launch of a new specialized section on its web portal called “Statistics Explained in Simple Language.” The project is aimed at popularizing basic economic concepts and is part of the regulator’s long-term strategy to improve statistical and financial literacy among the general public.

Content and methodology of the new resource:
The published materials explain in accessible language the complex terms used in financial, monetary and external sector reporting:
— International standards. The educational content is based on the methodological work of the European Central Bank (ECB), presented in the ECB’s information portal project “Statistics Explained”.
— Local adaptation. The Cyprus Central Bank’s subject-matter experts fully translated the European materials into Greek and adapted the economic examples to the specifics and needs of local Cypriot users and households.

Context of the initiative and financial literacy challenges:
According to the regulator, making statistical data easier to understand is intended to help citizens assess the current economic situation more consciously. The pressing need for such tools is supported by statistics:
— The regulator’s study. In March 2025, the Central Bank of Cyprus, together with the Organisation for Economic Co-operation and Development (OECD), conducted a large-scale study.
— Disappointing results. The testing showed that Cyprus residents lag significantly behind the European average in basic financial literacy.

The launch of the new interactive glossary became another practical step by the Central Bank within its broad program of economic education for the country’s population.