site.btaMinistry Launches Financial Literacy Portal

The Finance Ministry has launched a Financial Literacy Portal featuring educational and informational resources in the field of financial literacy. The platform is dedicated to improving financial knowledge and raising financial awareness. It offers practical advice and useful tools, and is available in two language versions – Bulgarian and English, the Finance Ministry reported on Wednesday.

The content and materials include a wide range of educational and informational articles, divided into two sections – "Life Events" and "I Want to Learn About”. They also feature useful tools (educational videos, tests, basic calculators, a game); frequently asked questions, and a glossary. The "Events" section is designed for publishing upcoming financial literacy events in the country. All materials are practical and useful, tailored to the diverse needs and levels of preparation of the users.

The initial materials are prepared within a technical assistance project under the European Commission's Technical Support Instrument "Strengthening the Capacity to Implement the National Strategy for Financial Literacy".

The Financial Literacy Portal allows for the updating and enrichment of its content with additional educational and informational resources and materials, provided by institutions and organizations - members of the Interinstitutional Working Group on Financial Literacy, established under the Minister of Finance.

Financial literacy and the management of personal finances are increasingly recognized as essential individual skills in people's everyday lives, the ministry said. Financial literacy is most commonly defined as a combination of financial awareness, knowledge, skill, attitude and behaviour which are necessary in order to make sustainable financial decisions and to achieve individual financial well-being. The need to increase it is driven by a number of factors such as the rapid development of the financial sector; the offering of an ever‑expanding range of complex financial products by various financial institutions; the growing number and diversity of financial service users; and the emergence of new risks, including those in the digital environment.

The English-language version of the Financial Literacy Portal is accessible here.