Kazakhstan’s National Bank will embark on research next year to find out just how well people understand how to handle their personal finances. The research will support a state program to enhance financial literacy.
The government is worried that even though Kazakhstan’s financial sector offers a relatively wide range of ways for people to earn some extra cash, loans remain the go-to resource for most households. The reason is obvious. Taking out a loan is not hard. The difficult part is figuring out a way to pay back the debt at a time when interest rates are punishing.
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