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22 May, Wednesday

Ufa   °

Bashkiria ranked first among Russian Federation regions in teaching children financial literacy

Economy/Business

UFA, 12 February 2019. /Bashinform News Agency, Galina Bakhshieva/ translated by Tatiana Aksyutina/.

Bashkortostan led the top three Russian regions in the number of schools that included financial literacy lessons in their educational program.

To date, there are 1.4 thousand schools in Bashkiria (91% of the total), where children learn the basics of financial literacy.

The Moscow region is in second place — 1.1 thousand schools. Tatarstan closes the top three — 1 thousand schools.

In total, over 70% of schools and 80% of colleges and technical schools have introduced financial literacy classes in Russia. These are the data of the Central Bank and the Ministry of Education of Russia.

In 2016, the Bank of Russia and the Ministry of Education of the Russian Federation signed an agreement on cooperation in improving the financial literacy of the population. A similar agreement at the regional level was concluded in 2017. The Central Bank has developed a textbook on financial literacy, which the ministry recommended for study in all Russian schools.

Children are taught how to manage finances and plan their budget at these classes correctly. They are designed to inculcate practical skills and are focused on solving the applied financial problems of everyday life, the National Bank for Bashkiria marks.

Most schools teach financial literacy from grades 5 through 9. In 35% of schools — from primary school. In the next academic year, the basics of financial literacy will be included in the federal state educational standard of higher education.

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