Romania, last in EU when it comes to financial literacy. May 15 could become National Investment Day
Romania ranks last among the EU member states when it comes to the financial literacy rate: only 22 percent of its population has a minimum financial knowledge, according to a survey on global financial education released by Standard and Poor’s in 2015, Bucharest Stock Exchange (BVB) informs in a press release.
In this context, the most important institution of the local capital market, launches the first of a kind initiative allowing Romanians to express support for enforcing a National Investment Day by signing an online petition on www.primainvestitie.ro, part of the most ambitious national project ever undertaken by a European stock exchange to increase financial literacy. The online petition will serve as a starting point for a legislative initiative to have a National Investment Day on May 15th.
“Romania’s biggest issue does not reside in having little money, but in the aim and the extent we choose to have it allocated. Romania needs a National Investment Day to change for the better not only the mentalities but also the destinies of millions of its citizens,” BVB’s CEO Ludwik Sobolewski said.
“Just as Romania has the ‘First House’ or the ‘First Car’ programs, it should also have the ‘First Investment’ program. We need a National Investment Day,” BVB’s Chairman Lucian Anghel pointed out, explaining the effects of coming into fruition of such an initiative. “If only we had managed differently and diversified the money we had earned so hard and had invested let’s say EUR 100 in the shares of the main companies listed on BVB at the beginning of 2012, we would now have had EUR 200, which means we would have doubled our investment. The total yield of the main index was in the black every year from the last five, which corresponds to an increase of 97 percent in euros by the end of 2016 and as such has nearly doubled during this time,” BVB’s Chairman added.
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