How does your country encourage savings?

In my country, several measures are implemented to encourage savings among the populace. Firstly, the government offers various tax incentives, such as tax-free interest on savings accounts, which act as a compelling motivator for individuals to set aside a portion of their income. Furthermore, financial literacy programs are increasingly being integrated into educational curricula, thereby equipping young people with the knowledge and skills necessary for effective money management and the importance of saving for future needs. Additionally, many banks provide attractive interest rates for long-term deposits, which further incentivizes citizens to invest their money rather than expend it immediately. These strategies collectively foster a culture of saving, which is paramount for both individual financial security and the overall economic stability of the country.