Financial Wellbeing Institute 2025 index shows improvement alongside persistent cost of living concerns

The Financial Wellbeing Institute's 2025 index reports improvements across all 14 sectors compared to 2024, according to the Ministry of Finance. Despite this overall growth, the report highlights that many citizens continue to struggle with the energy crisis and the rising cost of living. Citizens have expressed specific concerns regarding retirement and the maintenance of their standard of living post-employment. In response, the government noted that it has implemented measures to combat inflation and introduced a new tax framework. This fiscal reform includes adjustments to tax brackets, an increased tax-free threshold, and specific tax deductions. Furthermore, the government is currently reforming the pension system to ensure its long-term viability and adequacy. Officials also emphasized the need for better financial literacy to encourage household savings and improved economic management.