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Kazakhstan: Financial Illiteracy Hampering Economic Recovery

Kazakhstan intends to step up its financial literacy initiatives, like FinGramota.kz

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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Kazakhstan: Financial Illiteracy Hampering Economic Recovery

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