Financial literacy as a factor of ensuring fiscal sustainability, efficiency of public finance management and financial market development-Reference-Cited by-同舟云学术

Financial literacy as a factor of ensuring fiscal sustainability, efficiency of public finance management and financial market development

Published:2023-11-30 Issue:3 Volume: Page:154-168
ISSN:1993-4386
Container-title:Siberian Financial School
language:
Short-container-title:jour

Author:

Fadeikina N. V.¹^ORCID,Fadeikin G. A.²,Morozova О. V.¹

Affiliation:

1. Novosibirsk State University of Economics and Management

2. Audit organization LLC "FINEX"

Abstract

The article examines the current state of the level of financial literacy of the population in Russia, as well as the main trends in the development of financial literacy in the context of ensuring fiscal sustainability, the effectiveness of public finance management, and the development of the financial market. The mechanism of increasing financial literacy of the population is analyzed. It is shown that financial literacy of the population is directly related to financial education, financial culture, financial behavior and financial activity of the population. Reasonable conclusions are made that measures to introduce the Concept of improving financial and budgetary literacy of the population through the implementation of proactive budgeting practices approved by the Ministry of Finance of the Russian Federation at the end of 2022 will contribute to improving the level of financial (including budgetary) literacy and financial culture that affect the provision of fiscal sustainability, the effectiveness of public finance management, and the development of the financial market. and the new Strategy for Improving Financial Literacy and Financial Culture in the Russian Federation until 2030, the draft of which is currently being considered by the main participants of the Strategy for Improving Financial Literacy in the Russian Federation for the period 2017–2023.

Publisher

Novosibirsk State University of Economics and Management - NSUEM

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