Cooperation of EAEU Countries in Implementation of National Programs for Improving Financial Literacy as a Factor of Integration of Citizens into the Unified Financial Space of the Union

Olga Vikhrova

Abstract

The completion of the process of creating an integrated financial space for the Eurasian Economic Union is slated for 2025. However, the creation of a common financial market implies not only the officially indicated harmonization of the rules of monetary, currency, banking and insurance operations of countries, ensuring non-discriminatory access to the financial markets of member states of the Union and protecting the rights of consumers of financial services, but also the need to adapt the population to new realities. Only those citizens, who possess basic financial knowledge and relevant information about financial instruments, products, services, as well as the specifics of economic and financial regulation of partner countries, will be able to orient themselves freely in the emerging field. Thus, national programs of increasing the financial literacy of the population become the main instrument of citizens' integration into the united financial space. Having analysed the national programs for increasing the financial literacy of the population of the EAEU member countries in order to determine the possibility of their interstate coordination, the author suggests possible areas of cross-border cooperation within the framework of these projects that facilitate the integration of Union citizens into a single financial space.