Romania is scoring 6.85 on a scale from 0 to 10 in terms of Education, above Bulgaria (6.74), but below Poland (8.3), the Czech Republic (7.97), Hungary (7.38) and Slovakia (6.87), according to the Well-Being Barometer, an instrument that measures the quality of life in Romania through three fundamental dimensions: Education, Healthcare and Social Welfare.
According to a press release of the National Union of Insurance and Reinsurance Companies of Romania UNSAR, this score highlights gaps in educational inclusion, basic skills and the level of preparedness for the labour market.
"In Romania, education is a strategic investment, not only in individual performance, but in the economic and social health of the country. Figures now show an uncomfortable truth, but one that needs to be addressed: a coordinated effort between the state, the private sector and civil society is needed to reduce the gaps and increase children's real chances for a better life. Thus, supporting financial, digital and health education must become a priority for the future," according to Alexandru Ciuncan, president and CEO of UNSAR, the organisation that initiated the ABS platform - Alliance for Well-being.
The findings of the barometer confirm that the level of education - including financial education - is closely linked to the degree of financial resilience of the population. In this context, insurance has an important role in supporting well-being, by providing financial protection and by constantly contributing to increasing the level of financial education among the population.
Regarding the educational level, the analysis shows that the proportion of Romanians with a low level of formal education is double compared to Poland or Slovakia, respectively 22%, which affects the society's ability to sustain a competitive economy and a high level of well-being.
Romania is also witnessing decreases in primary education, as the degree of coverage is 84%, below the EU average (101%) and down from 2019 - an alarm signal regarding the system's ability to integrate all children with the education system.
At the same time, the share of young people who leave school early and are not employed reaches 38.5%, the highest share reported in the EU in recent years.
Regarding financial and digital skills, only 12% of Romanians have above-average skills, significantly below the EU average (18%). As for basic digital skills, only 28% of citizens have them, well below the Czech Republic (69%), Hungary (58%) or Poland (44%).
According to the barometer, these gaps constrain integration into the labour market and adaptation to the digital and green transition.
"The barometer clearly shows that the shortcomings in skills, digitalisation and inclusion have a direct impact on the well-being of the population. Under the initiatives developed within ABS and at the industry level, we promote financial, digital and health education as essential parts of well-being," according to Life and Health Insurance Specialist & UNSAR Programme Coordinator Roxana Balu.
The analysis was carried out by MIR Research on a commission from UNSAR for the ABS platform - Alliance for Well-being.
ABS is a collaborative platform that brings together companies, organisations, public institutions and experts to promote preventive measures and improve quality of life in Romania.
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