National Financial Literacy Strategy
The National Strategy is being developed by a specially created Inter-Agency Working Group that includes representatives of the Ministry of Finance of the Russian Federation, Bank of Russia, Ministry of Education and Science of the Russian Federation, Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing, and Pension Fund of the Russian Federation. The National Strategy will be serving as the foundation for coordinated state policy in financial literacy promotion over the next five years.
As part of the Project, regular social studies are held to understand the financial behaviors and savings habits of the population:
- OECD PISA international financial literacy assessment of Russian students (2012 and 2015).
- Financial literacy study (CJSC Demoscope Research Center, 2012; National Agency for Financial Studies NAFI, 2015).
- Social study of households “Study of the Population Financial Behaviors and Savings Habits” (CJSC Demoscope Research Center, 2013, 2015).
- Nation-wide survey on accessibility of financial services in the Russian Federation (National Agency for Financial Studies NAFI, 2015).
These studies offer reliable information on the level of financial literacy of the population in general, of individual target audience groups and in relation to specific aspects of financial literacy. The social data collected within the framework of the Project has served as a basis for the new National Financial Literacy Strategy.