Financial inclusion is important for the overall health and stability of a macroeconomy. It allows individuals and businesses, especially those in low-income or marginalized communities, to access financial products and services that can help them to manage their money and plan for the future. This, in turn, can help to promote economic growth and development by increasing the number of people who are able to participate in the financial system.
Financial inclusion can also help reduce poverty by providing people with the tools they need to save and invest their money, start businesses, and create wealth. It can also promote financial stability by increasing the number of people with access to formal financial institutions, which can provide a safe and secure place to store money and access credit when needed.
Overall, financial inclusion is vital for ensuring that all members of a society have the opportunity to participate in the economy and benefit from its growth and development.
Why do we need financial inclusion in a macroeconomy? was originally published in Piccopay Pte. Ltd. on Medium, where people are continuing the conversation by highlighting and responding to this story.
