Lasha Labadze makes a comment about a joint project by ISET, TBC Bank, and TNS. According to the research on financial literacy, Georgia rated quite low. Only 6 percent of the respondents of the survey were financially literate, which negatively affects the economic situation. The first ever large-scale study on financial literacy in Georgia surveyed 1000 respondents in seven major cities: Tbilisi, Batumi, Zugdidi, Gori, Kutaisi, Poti, and Rustavi.
A core questionnaire designed to capture information about financial behavior, attitudes, and knowledge, in order to assess levels of financial literacy and financial inclusion. Financial literacy was measured by four specific questions about simple interest rate, compound interest rate, inflation, and risk/diversification. Assessing the levels of financial literacy in the population is a key component of a successful national strategy for financial education, enabling policy makers to identify gaps and design appropriate responses.
Watch the video from Rustavi 2 to learn more.