Nicosia, Cyprus. Cyprus and Sweden signed a protocol updating their bilateral double taxation agreement on Friday, while CoinTales.AI founder Max Fedorov called for financial education to begin earlier in Cyprus. Separately, Eurostat figures showed Cyprus recorded a wider current account deficit in the first quarter of 2026.
Financial education proposal
Speaking to the Cyprus Mail, Max Fedorov, founder of the learning platform CoinTales.AI, said children in Cyprus should be taught fundamental economic concepts earlier than the current curriculum allows.
Fedorov, a software developer, said formal economics lessons often do not begin until the 7th or 8th grade. He said this is too late, adding that younger children are highly receptive to learning.
He said his platform uses AI to create gamified, interactive content designed to make complex topics accessible and engaging for young learners.
Fedorov said that fostering a foundational understanding of finance would help equip the next generation with practical skills needed for economic resilience.
Cyprus-Sweden tax protocol
Cyprus and Sweden on Friday signed a protocol updating their bilateral double taxation agreement, aligning the treaty with OECD international tax standards and strengthening cooperation on tax transparency and the exchange of information.
According to a finance ministry statement, Finance Minister Makis Keravnos signed on behalf of the Republic of Cyprus, while Swedish Ambassador Martin Hagstrom signed on behalf of Sweden.
The ministry said the protocol amends the original 1988 Convention for the Avoidance of Double Taxation with respect to taxes on income.
It said the revised agreement incorporates the minimum standards of the OECD’s Base Erosion and Profit Shifting initiative, introduces provisions relating to bilateral tax treaties and includes mutually agreed wording governing the exchange of tax information.
Current account data
Eurostat figures released on Friday showed that Cyprus recorded a wider current account deficit in the first quarter of 2026, even as the European Union posted a stronger external balance.
