The document summarizes Lebanon's Institute of Finance's efforts to advance youth financial literacy in light of Lebanon's challenging fiscal environment. It discusses how the Institute has developed a national strategy and innovative tools like micro-learning and infographics to educate youth. The Institute has hosted over 2,500 student visits to provide awareness, capacity building, and dialogue on financial topics where youth lack strong financial competencies. Challenges to financial education in Lebanon include outdated school curricula, and the Institute plans to address this through increased digitization and use of technology to develop educational resources for youth.

1. Lebanon’s Experience
in advancing youth
budget’s literacy July 2019
© Institut des Finances Basil Fuleihan 2019

2. I. About the Institute
II. Challenging Environment
III. Advancing Youth Financial Literacy
Table of Content

3. © Institut des Finances Basil Fuleihan 2019
About the Institute

4. © Institut des Finances Basil Fuleihan 2019
A center of excellence in PFM
As a center of excellence with extensive
experience, the IOF supports capacity
building in public financial management and
customs
Contribute to the development of human resources and
capacity in public financial management
Strengthen cooperation and networking, the transfer of
knowledge and good practices
Promote knowledge transfer, transparency and access to
information
Promote a culture of excellence and innovation in public
sector
Legal Status: Public Autonomous Agency
(administrative and financial autonomy) reporting to
the Minister of Finance

5. © Institut des Finances Basil Fuleihan 2019
Lebanon’s macro fiscal environment

6. © Institut des Finances Basil Fuleihan 2019
A challenging environment
Economic Growth
Source: Debt and Debt Market Review - Q4-2008-2010-2018 - MOF
Fiscal Balance
Source: Public Finance Monitor, Ministry of Finance 2018
5,918-
6,362-
4,632-
5,958-
7,453-
5,622-
9,816-
166- 361-
1,970 1,092 31
2,152
12,000-
10,000-
8,000-
6,000-
4,000-
2,000-
-
2,000
4,000
2012 2013 2014 2015 2016 2017 2018
Fiscal balance Primary balance
9.2%
10.0%
8.0%
0.9%
2.7% 2.6%
1.8%
0.4%
1.6%
0.5% 0.2%
1.3%
0%
2%
4%
6%
8%
10%
12%
Source: IMF Database

7. © Institut des Finances Basil Fuleihan 2019
Source: Public Finance Monitor,
Ministry of Finance 2018
Expenditures Breakdown
Reduced margin for capital expenditures
29.72% 31.44% 33.48% 31.48% 31.98% 34.72% 32.73% 35.44% 35.63%
10.54%
14.92%
16.97%
14.86% 15.01% 8.68%
6.23%
8.63% 9.83%
9.70%
9.36%
9.31%
11.85% 9.69%
8.35%
10.81%
9.42%
9.83%4.11%
3.84%
3.78% 4.80%
4.20%
4.35%
4.81%
5.15%
5.41%9.45%
6.03%
7.80% 7.82%
7.73%
9.33% 12.03%
7.65%
6.72%
36.47% 34.28%
28.64% 29.18% 31.39% 34.57% 33.39% 33.70% 31.00%
2010 2011 2012 2013 2014 2015 2016 2017 Nov-18
Interest payment and Foreign
Debt principal repayments
Treasury expenditures,
customs, budget advances and
others
Capital expenditures
Other Current expenditures
EDL tranfers
Personnel cost

8. © Institut des Finances Basil Fuleihan 2019
Debt and Debt ratio
Increasing debt burden

9. Low Transparency and Public Participation
https://www.internationalbudget.org/wp-content/uploads/lebanon-open-budget-survey-2017-summary-english.pdf

10. Limited oversight and accountability
https://www.internationalbudget.org/wp-content/uploads/lebanon-open-budget-survey-2017-summary-english.pdf

11. © Institut des Finances Basil Fuleihan 2019
Advancing Youth Financial Literacy

12. © Institut des Finances Basil Fuleihan 2019
Youth lacks strong financial competencies
69% of youth are not able to
calculate correctly a
compound interest rate
42% gave an incorrect
answer on the time value of
money
20% failed to calculate,
without error, a discount rate

13. © Institut des Finances Basil Fuleihan 2019
Fiscal citizenship is weak
55% don’t define correctly
the debt service
41% do not differentiate
between end of service
indemnities and pensions
70% state that tax revenues
are used to fund political
agendas

14. A draft national strategy for financial education

15. Innovative Tools and Resources

16. Youth Visits : +2500 students so far
Book fairsDictée des Finances
Awareness, capacity-building and dialogue

17. Innovative Tools and Resources

18. Innovative Tools and Resources

19. Micro-learning
Microlearning refers to the learning strategy that delivers learning content to learners in
short, bite-sized, and easily digestible learning nuggets. It:
1. Helps learners achieve one learning objective at a time
2. Provides specific & targeted information (need-to-know & nice-to-know)
3. Addresses Short Attention Spans
4. Is accessible on all devices: laptops, tablets and smart phones
5. Comes in various formats: text, infographic, quiz, games.

20. Micro-learning and Infographics

21. © Institut des Finances Basil Fuleihan 2019
Challenges and the way forward

22. Four tensions are holding back
education in MENA
Updating school curricula
• Youth Arab Survey 2019
• World Bank, Expectations and aspirations: A New Framework for Education in the Middle East and North Africa, 2019

23. © Institut des Finances Basil Fuleihan 2019
Digitization
Using technology to produce educational knowledge tools for young people

24. IOFLebanon
IOFLebanon
Institut des Finances Basil Fuleihan
www.institutdesfinances.gov.lb
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