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Tuesday, 23.04.2024, 16:31
World Bank: ageing population is a danger for Estonia
BC, Tallinn, 11.03.2015.
Print version
Print versionThe World Bank warns in its fresh report that aging population puts increasing pressure on Estonian state finances and it threatens economic growth in long-term perspective, Äripäev.ee/LETA reports.
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In addition to the aging population, the report highlighted that the economic growth is also threatened by low birth rates, emigration, and outdated work methods. These factors reduce the chances for Estonia to catch up with the wealthy Western Europe.
The report draws attention that the economic growth of the Baltic States has been faster than in the richer European countries, but the big westward emigration has reduced the number of people of working age, and that has in high long-term perspective a major impact on economic growth.
With the aging population and emigration of working age population, the Estonian pension system is under increasing pressure, and this has an impact on the state budget.
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