Government focuses on improving financial literacy


The Ministry for National Economy has completed the draft of a seven-year strategy to give all Hungarians a basic understanding of finance. The draft is open for public consultation until September 12, according to reports. 

Financial literacy could become part of the compulsory school curriculum, according to information published by online news portal Currently financial studies are compulsory only in some high schools.    

Ágnes Hornung, state secretary at the Ministry for National Economy, said Friday that the strategy - drafted with the involvement of civil organizations as well as other state institutions - draws on the successes of earlier such programs and aims to make Hungarians more prudent when it comes to spending and borrowing, and more resilient when dealing with financial stress.

The strategy is targeted at all Hungarians, including those living in underdeveloped regions of the country, Hornung said, quoted by national news agency MTI.

The strategy has several recommendations for preparing both adults and children for coping with financial services. For example, children and students would be offered a saving scheme with government-subsidized interest rates.


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