IMF: Albania’s rapid population ageing will hurt the economy
05/07/2019 18:49
The Washington Agreement Must Be Reactivated! 06/01 19:04
The International Monetary Fund warns that the ageing of the population, accompanied by massive emigration, is hurting the Albanian economy and its perspective for the future.
The labor force will shrink significantly during the next three decades. The drop has already started, since the work-force population has been reduced with 0.6% from 2015 to 2019.
The labor force is one of the main factors of production in an economy. Less work means less production. But the economic growth is not the only negative consequence. The demographic changes will hurt the state finances as well.
From 2015 to 2019, the number of retired persons increased with 12%. The population ageing will increase the budget cost for health and pensions.
Top Channel
