According to Bank of Russia news published on December 26, 2023, the index will become one of the implementation indicators of the Strategy for Improving Financial Literacy and Developing Financial Culture until 2030.
The parties are planning to perform the first pilot measurement of the index in 2024 H1. The index will assess individuals’ ability to manage personal finance, mindfulness in making financial decisions and accepting related risks, debt burden, purchases of insurance products, and long-term savings. The agencies will assess the level of individuals’ financial literacy, its integration into the educational system of the constituent territories of Russia, and the necessary infrastructure in the regions
The Bank of Russian and the Russian Ministry of Finance have summed up the results of the implementation of the Strategy for Improving Financial Literacy in the Russian Federation for 2017–2023. Over the seven years, Russia has created specialized information resources, prepared a methodological base, and built an educational infrastructure. Regions are implementing their own program for improving financial literacy. Over 3.5 million schoolchildren and students have taken part in specialized academic competitions and contests. http://tinyurl.com/3xxacfw4
Source: IBP