Financial education is becoming an absolute priority in a world where wrong economic decisions can have devastating consequences, Prime Minister Marcel Ciolacu stated on Friday at the Financial Education Forum.
Ciolacu mentioned that last week world stock markets have been shaken by extreme volatility fueled by the escalation of the global tariff war, and this „tipping point” shows that today, making decisions without fundamental financial knowledge is the worst solution.
„There could not be a more important moment to reflect on the topic of financial education, because today more than ever we are witnesses to a global economic reality in a brutal change, which challenges us to be extremely attentive, informed and, above all, prepared,” Ciolacu stated.
He said that, in this context, even the most experienced economists and investors are facing difficulties in anticipating future developments today.
„This critical moment shows us that today making decisions without fundamental financial knowledge is the worst solution. It means lost money and a future put at risk. Therefore, financial education becomes an absolute priority in a world where wrong economic decisions can have devastating consequences,” added the Prime Minister.
Marcel Ciolacu mentioned that „measures” are already being taken in Romania, such as the inclusion of Financial Education in the Curriculum for middle and high schools and a National Strategy for Financial Education by 2030, adding, however, that a „much more applied approach, more direct and better adjusted to the way young people communicate today” is needed.
He gave „successful examples” from other countries, such as Finland, the United Kingdom and the United States.
„I am certain that, under the aegis of the National Bank of Romania, the banking industry can and must be the biggest supporter and partner of our education system in such an endeavor (…) Because financial education is not just about money and just about the education system, it is about offering every young person or adult the chance to build a secure and prosperous future, it is about transforming uncertainty into opportunity and making Romania an example of economic responsibility,” added Marcel Ciolacu.
The head of the Executive underscored that financial education is also „a factor that stimulates the entrepreneurial spirit.”
„A society in which both young people and adults know the principles of money management is one that encourages initiative, innovation and solid economic development. Through financial education, people better understand economic risks and opportunities, and companies led by well-trained entrepreneurs become reliable partners for everyone,” Ciolacu also showed.
In the opinion of the prime minister, there is still much room for improvement in Romania in terms of knowledge and use of financial products and services, as well as digitalisation.
AGERPRES
