The Council of Ministers, at its meeting today, approved the proposal of the Ministers of Finance and Education, Culture, Sports and Youth for the adoption of a National Strategy for the promotion of Financial Literacy and Financial Education in Cyprus.
Essentially, it approved the Report of the Ad - Hoc Committee for the formulation of a National Strategy for the promotion of financial literacy and financial education in Cyprus.
It is noted that the "Strategy to combat financial literacy" is included as a milestone in the Recovery and Resilience Plan.
The Strategy aims to empower citizens with the knowledge and skills needed for their financial well-being. The mission of the National Strategy is to promote financial literacy and financial education among citizens in order to contribute to the effective management of their financial resources and thereby enhance their financial well-being.
The proposed actions of the National Strategy are to raise public awareness of financial literacy through targeted communication and various events, to promote financial literacy in public and private life, and to promote financial education in the public sphere.
