ZAGREB - Rapidly shrinking and ageing populations in central and southeastern Europe could significantly hamper economic growth and convergence with more developed European economies, the International Monetary Fund said on Monday.
IMF deputy managing director Tao Zhang told a conference in Dubrovnik that the overall population of the region would decline 12 percent by 2050 due to ageing and migration, while the labor force was likely to fall 25 percent. “Shrinking labor supply and lower productivity of older workers, together with greater pressure on public finances, could cost countries about 1% of gross domestic product per year”, Zhang said.
“Without the current demographic pressures the region could have reached 74% of income levels in western Europe in the same period,” Zhang said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The choice of the IMF’s next boss could be a coronationThe IMF is usually led by whichever European choice the Americans can live with. They are unlikely to object to Mark Carney I suggest Sir Mario Draghi for the boss of the I.M.F. The Europeans won’t propose Carney because he won’t do their bidding. He’s highly unlikely. Why is IMF always run by a European and the World Bank by an American? Are they smarter bankers?
Source: TheEconomist - 🏆 6. / 92 Read more »
Pakistani traders strike over IMF austerity measuresMarkets and wholesale merchants across Pakistan closed on Saturday in a strike b...
Source: Reuters - 🏆 2. / 97 Read more »
Quiz: Could You Have a Thyroid Problem?Are you gaining weight, tired, or depressed? Losing weight, irritable, or can’t sleep? It may be your thyroid. Take this WebMD quiz and find out more. Better Hashimoto's than Grave's ... True True
Source: WebMD - 🏆 709. / 51 Read more »
Manhattan power outages are crippling subway service and causing traffic problemsThe New York subway system is experiencing power outages in Manhattan tonight, the transit authority says The power outage was apparently caused by a transformer fire. (Terror Attack) You are aware that a Hurricane hit Louisiana today and that these people are still dealing with a Tropical Storm? Right? Any coverage on the 120K people without power there? Houses destroyed by flooding? Oh and it is not over? HurricaneBarry2019
Source: CNN - 🏆 4. / 95 Read more »
17 Problems All Skinny Women HaveThe dream: weigh enough to donate blood. Does anyone actually have a good time with denim shorts? 😩 Was this written in 2007?
Source: BuzzFeed - 🏆 730. / 51 Read more »
Asia markets set to trade lower as investors await China's growth dataInvestors will be watching out for Chinese gross domestic product data for the second quarter, set to be released at 10:00 a.m. HK/SIN, for clues as to whether policy makers will introduce more stimulus measures in the coming months. Let's fall China! Down 3 to 5%, you can do it!
Source: CNBC - 🏆 12. / 72 Read more »