, debit cardholders account for 53 % of the adult population and 87 % in the euro area. hence, the need for convergence in financial inclusion, among others, by lifting the financial literacy and awareness is apparent. while globally there are visible strivings to enhance the “ conventional ” financial education, the rapid penetration of information technology in the overall spectrum of financial services does stress the urgent need for digital financial literacy as a critical dimension of the overall education. digital financial services are acknowledged as an opportunity to deepen financial inclusion and expand access to financial system for previously underserved groups. there are several dimensions in this area, that all of us as stakeholders should be aware of in order to provide for an ecosystem with balanced opportunities and threats. the first dimension is the knowledge of digital financial products and services in the area of payments, asset management or alternative finance. then the awareness of digital financial risks that are more diverse than when using traditional services such as online fraud and cyber security risks, but also over - borrowing or borrowing at excessively high interest rates amidst easy access. the last dimension relates to the knowledge of consumer rights and compensation procedures. the emergence of the pandemic, its nature and the necessity of social distancing in the covid - 19 even more urged the need for faster digitalization that has to go hand in hand with increased digital knowledge, and can be “ seen to present an opportunity for many countries to progress more rapidly in facilitating digital financial services, enhancing regulatory and physical infrastructure so that service providers can meet new demand ” ( world bank, 2021 ). rising penetration of digital services is present across the board, although the potential for further growth is visible. the scrutiny of the available data reveals that around half of the adult population in the euro area used a mobile phone or the internet to access a financial institution account, while this percentage on a global level equals 23 % and only 12 % in north macedonia. digital payments were made or received by 92 % of the euro area adult population, while 52 % worldwide, and 66 % in the macedonian economy. the financial landscape is apparently going through tectonic shifts, as the technology is penetrating in all the pores of our societies and our day - to - day life, and the pandemic is prompting these changes aggressively. therefore we do see the promotion of digital financial inclusion becoming one of the main priorities on a global level. for instance, the g - 20 global partnership for financial inclusion in late 2020 has set

consequences of rising income inequality. it was the financial crisis that brought the issue to the fore. even more, some authors link the severity of the financial crisis and its unexpected spell, exactly to the uneven societies. in his book “ fault lines ”, raghuram rajan argued that rising inequality in the past three decades led to political pressure for redistribution that eventually came in the form of subsidized housing finance, which was at the root of the global crisis. whether or not policies of the central bank affect the income distribution gained lots of attention, as well. i would say that the pure fact that we inherently face with heterogeneity across households in terms of their primary sources of income – capital or labor – or with respect to their position of being saver, or borrower naturally implies that monetary impact, at least in the short - term, could differ along these groups. macro - prudential measures, by design are targeted and selectively used to tackle identified points of vulnerability. purchase of different types of assets, also significantly alters the pricing on the financial markets and can have different wealth effects. still, given the rationale and the features of central banking policies, as ben bernanke ( 2015 ) states : “ by comparison to the influence of ( these ) long - term factors, the effects of monetary policy on inequality are almost certainly modest and transient ”. these long - term factors influencing inequality relate to globalization, technological progress, demographic trends, and institutional changes in the labor market. how should we tackle the chronic problem of uneven income distribution, which seems a symptom of many fundamental weaknesses of the system? how to return the greatness of the opportunities that modern society should bring? should the way forward be stronger regulation, more active redistributive role of the state or as prof. zingales claims through harnessing the power of competition? as economists, we all know that market based system inherently brings some inequality, but its disruptive power is unthinkable when boundaries are crossed. at the current juncture, when global growth slowdown is on the horizon pro – growth and pro – equality policies seems inevitable. i am sure that distinguished speakers and panelists will reflect on the array of available policies, including improving access to markets and levelling the playing field, increasing financial inclusion, investing in human capital, regulatory and institutional reforms, that strengthen the rule of law and promote competitive and fair business environments. we, as policymakers