Romania Insider
Romania, last in Europe on financial education

Romania is last in Europe on financial education doing worse than all the countries in the region.

“Only one in five Romanians has a fairly good understanding of financial products; it’s not us saying this, it’s the Standard&Poor’s rating agency; compared to one in three citizens worldwide,” said Alexandru Ciuncan, secretary general of the Association for Promoting Insurance – APPA.

The financial education rate is 21% in Romania, compared to an average of 52% in the European Union and 65% in the Nordic countries. Moreover, Romania’s results are also worse than those of its neighbors. Czech Republic has a financial education rate of 58%, Hungary – 54%, Slovakia – 48%, Poland – 42% and Bulgaria - 35%, Ciuncan said.

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Romania Insider
Romania, last in Europe on financial education

Romania is last in Europe on financial education doing worse than all the countries in the region.

“Only one in five Romanians has a fairly good understanding of financial products; it’s not us saying this, it’s the Standard&Poor’s rating agency; compared to one in three citizens worldwide,” said Alexandru Ciuncan, secretary general of the Association for Promoting Insurance – APPA.

The financial education rate is 21% in Romania, compared to an average of 52% in the European Union and 65% in the Nordic countries. Moreover, Romania’s results are also worse than those of its neighbors. Czech Republic has a financial education rate of 58%, Hungary – 54%, Slovakia – 48%, Poland – 42% and Bulgaria - 35%, Ciuncan said.

[email protected]

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