Raising the level of financial literacy of individuals is required for a series of reasons, having in mind that increasingly complex financial products and services are appearing in the present-day globalised financial market and owing to the uneven availability of information, according to the ministry's explanation.
In Croatia, 1,145 secondary school students have been covered by an OECD-conducted survey of financial literacy. Croatia has been ranked 14th out of 18 economies covered by the "Students and Money" survey.
Those countries are Australia, Belgium (Flemish Community), Shanghai-China, Colombia, Croatia, the Czech Republic, Estonia, France, Israel, Italy, Latvia, New Zealand, Poland, Russia, Slovakia, Slovenia, Spain and the United States.
Croatia's results in financial literacy skills among secondary school students have been lower than the OECD average.
The best results have been shown by Chinese students in Shanghai, and Colombia is at the bottom of the ranking.
As for Croatia's neighbourhood, Slovenia has fared better by 5 points than its eastern neighbour, while Italy lags behind Croatia.