Largest financial education campaign launched in Moldova

Chisinau, Oct. 31 /MOLDPRES/- The largest financial education campaign in Moldova's experience was launched today in Chisinau, on World Savings Day, marked annually on October 31. The priorities of the action were presented at a public event, along with the results of a survey on assessing the financial education of the population of Moldova. The campaign will run for one year, until autumn 2024, and will cover the entire territory of Moldova.

The action is organized by the National Bank of Moldova (BNM) in partnership with the Expert-Group center, supported by USAID Moldova Institutional and Structural Reforms Activity.

The national financial education campaign is addressed to all citizens, regardless of age and occupation, and aims to intensify financial education efforts in society. Consumers will find out possibilities to save and invest in Moldova, connection between risk and income, how to correctly compare different credit offers, what are the risks associated with cryptocurrencies.

"It is important for the public to understand the activity of the banking sector and what is happening in the financial environment. Thus, financial education is an absolutely necessary component of communication in this sense and has as its basis and priority the support of any citizen who wants to develop his financial culture", National Bank governor Octavian Armașu said.

USAID Moldova Director Jeff Bryan emphasized the importance of understanding financial principles by citizens, who lack the knowledge and skills to make informed financial decisions. "Financial literacy is not a luxury, but a necessity," he said.

In the survey on assessment of financial education, about two thirds of the respondents self-assessed themselves at the "average" level regarding financial knowledge. More citizens believe that they have low knowledge (19.4%) in the financial field than those who claim to have above average knowledge (12.9%). The data will be used in the development of the Strategic Program for Financial Education at the national level, within the strategic assistance offered by USAID, and respectively, in the implementation of the financial education campaign launched today.

Photo: BNM