“Economic education can help protect against populism. When citizens have basic economic knowledge, this leads to a better informed and more engaged society, which is vital for the quality of our democracies and the stability of our economies.”

This was noted by the Minister of National Economy and Finance, Kostis Hatzidakis, during his speech at the Award Ceremony of the International Economic Olympiad held at the International Olympic Academy in Ancient Olympia, by the Czech Institute of Economic Education (INEV), in collaboration with KEFIM – Markos Dragoumi. 97,000 students from more than 20 countries participated in the International Economic Olympiad.

As the Minister underlined, Greece has faced the consequences of populism in the past: “In the past decade, our country faced an unprecedented economic crisis, falling victim to populist political forces and choices. Our economy has paid dearly, with GDP per capita falling by more than 25%, unemployment soaring and many young Greeks leaving the country in search of better opportunities,” he added.

He then pointed out that Greece has turned the page since 2019 and the recovery of the economy is remarkable: “In the period 2019-2023, we achieved the largest reduction in unemployment, the highest percentage increase in the volume of investments and the highest percentage increase in the share us in exports of goods between all EU countries. Just a few years ago, who could have imagined such progress?’

The Minister also referred to the benefits of financial education for every citizen: “Understanding the economy helps people make informed financial decisions. Whether it’s managing simple day-to-day issues. Whether for managing more complex matters such as investments and retirement planning. Economic education, therefore, is not only about understanding the economy, but also about securing the economic future of each individual citizen”.

The Minister emphasized that the promotion of financial education is not an issue that only Greece has to deal with, and that is why “24 member states of the European Union and 80 countries worldwide have adopted strategies for financial education”. While he specifically referred to the Greek government’s initiatives on this specific issue: “Traditionally, our education system did not emphasize economics. That is why the government presented the National Strategy for Financial Education. And starting in the 2025-2026 school year, the Ministry of Education will add a new course in high school on basic financial concepts.”

Finally, Mr. Hatzidakis congratulated the President of the Economic Olympiad, Martina Bacik, and its Executive Director, Alexandros Skouras, for the excellent organization of the Economic Olympiad. After the Closing Ceremony, the Minister had the opportunity to talk to students who participated in the final phase.