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International Internet Magazine. Baltic States news & analytics Tuesday, 19.03.2024, 05:22

Financial literacy of Latvian residents gradually improving in 2015

BC, Riga, 03.07.2015.Print version
Financial literacy of Latvian residents is gradually improving, according to study by the Financial and Capital Market Commission, cites LETA.

The financial literacy index shows that residents' knowledge about financial matters has increased to +21.2 points this year, as compared with +20.6 points in 2014.

 

Latvian households have become more stable, achieving financial sustainability, as they managed to get back to their previous growth level for the first time since 2005. This is proven by the combined value of statistical indicators, registering +2.3 in 2014, as compared to -59.7 during the economic crisis.



Source: fktk.lv


The index reveals that this year, the residents are demonstrating better understanding about the security of e-services, increased accuracy regarding family budget planning and timely payments, as well as a tendency to accumulate savings for emergency situations. However, some aspects, such as long-term financial planning, still require improvements, according to Kristaps Zakulis, Chairman of the Financial and Capital Market Commission.






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