Responsibility, Proactivity, and Interest: Stanislav Prokofiev Highlights Key Features of Financially Literate Individuals at VIII Moscow Financial Forum
The VIII Moscow Financial Forum, organized by the Ministry of Finance of the Russian Federation and the Government of Moscow, was held on October 18th, 2024 in the Manezh Central Exhibition Hall. As usual, the forum brought together key representatives from federal and regional governments, businesses, public organizations, and associations, as well as leading experts in economics and finance.
The main theme of the 2024 Forum is "The Sovereign Financial System in the Period of Transformation: At the Service of National Goals, Guarding Welfare". Experts focus on the future of financial markets, tools for achieving national goals, the digital future of budgets, and the influence of financial culture on regional development. Discussions took place during 15 business sessions.
Stanislav Prokofiev, Rector of the FinU, participated in a business session on "The Impact of Financial Culture on Economic Development of Regions." Participants discussed the formation of financial culture, considering differences in socio-cultural environments across regions, and how to engage businesses in financial education programs.
Stanislav Prokofiev, in his speech, discussed the peculiarities of financial culture formation among economically active citizens and young people. He emphasized the key features of a financially literate person: a thinking individual who is responsible to themselves, their family, and society, who thinks long-term and is a responsible taxpayer. They are proactive individuals who care about their reputation and strive to participate in budget processes through an initiative budgeting mechanism. They also have knowledge of new technologies and cybersecurity.
The Rector of the FinU also emphasized that today it is essential to set boundaries beyond which people should not go when considering the safety of their investments or savings. At the same time, it is crucial to focus on the interests and level of education of citizens, providing them with a diverse range of knowledge and skills: from the basics, such as using financial marketplaces, to more advanced recommendations in individual investment, payment systems, and digital tools.
Stanislav Prokofiev emphasized the significance of educational efforts in fostering financial literacy and financial culture: "Together with the Ministry of Finance, FinU is actively working on this front, instilling in people a culture of utilizing new financial services. This is not only a noble and important task but also a driving force behind the popularization and advancement of numerous services and products."
The speakers of the session included Pavel Kadochnikov, Deputy Finance Minister of Russia; Tatyana Ilyushnikova, Deputy Minister of Economic Development of Russia; Mikhail Mamuta, Head of the Service for Consumer Protection and Financial Inclusions of the Central Bank of the Russian Federation; Vladimir Mazur, Governor of the Tomsk Region; and Elena Udalova, Head of Sociology at the ANO Dialogue.
During the MFF business program, Alexei Lavrov, Deputy Finance Minister of Russia, presented an award to the FinU in the category "For the Development of Methodological Support for the Implementation of a Social Order." Svetlana Solyannikova, Vice Rector Scientific Work of the FinU, received the award on behalf of the University. The event concluded with the business session on "Budget Process and Technologies: Results of Budget Reforms 2019-2024 and Future Goals."
