The Hungarian strategy on the enhancement of financial education has been developed considering international best practices available in the OECD/INFE framework. The strategy covers 7 years, from 2018 to 2024, breaking down its practical implementation into two-year action plan.
The strategy’s evolutionary nature enables smooth adjustment to the rapidly changing economic and technological environment if needed. The goal is to raise the level of financial capability of the Hungarian citizens in order to be smarter, more efficient in their individual and family finances. In particular, at the forefront of this strategy there are financial planning, obtaining credits responsibly, basics of financial consumer protection, more widespread use of electronic payments, etc.
The development of this strategy involves a large number of stakeholders from the public, private and civil sector and the experiences gained in the first 2 years are encouraging, although a long road needs still to be covered. All these topics will be presented and discussed more in details during the webinar “Enhancing financial literacy in Hungary” held by Mr Balogh.