Financial education is not a technical subject reserved for economists. It is, according to President Nicuşor Dan, an essential survival skill in the 21st century.
“A young person leaving school must know how to take out a loan, how to compare offers, and how to invest,” Dan said Monday at the Financial Education Forum. Without this basic knowledge, any adult lacks essential tools.
There is a proven correlation between a society’s level of financial literacy and that country’s prosperity, says the president. Financially literate people influence public policy. Politicians pay attention to what voters think and adjust their decisions accordingly. In Romania’s case, a lack of financial literacy has led to unsound economic decisions.
A society with solid financial literacy fosters greater entrepreneurship. And without entrepreneurship, the economy “creaks.” Furthermore, private capital—which is insufficient in Romania—would benefit from a greater appetite for inves...

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