FINANCIAL INCLUSION STRATEGY AND ITS IMPACT ON ECONOMIC DEVELOPMENT

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Keywords:

Financial inclusion, economic development, economic growth, unemployment reduction, macroeconomic policies, financial stability

Abstract

The study attempted to shed light on the impact of the financial inclusion strategy on the economic development given the great role it plays in promoting the economic and social growth of societies. The study relied on the inferential descriptive approach. The most crucial result that the study put forward was the fact that there is a statistically significant impact of the financial inclusion strategy on economic development in all its dimensions including the rate of economic growth, creating job opportunities, reducing unemployment, increasing the effectiveness of macroeconomic policies, and achieving financial stability. The study recommended the importance of spreading awareness, raising the levels of financial education, and increasing the efforts made for this purpose. It also accentuated increasing the opportunity for small enterprises to gain access to finance and banking services to improve their contribution in the national economy.

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Published

2021-12-01