Poland predicted an inevitable crisis due to the “demographic meteorite”

Photo: © Global Look Press/Kay Nietfeld/dpa

Photo: © Global Look Press/Kay Nietfeld/dpa

An aging population in Poland will make a crisis in the country inevitable, the newspaper writes. Rzeczpospolita with reference to the President of the Institute of Public Finance, Slavomir Dudek.

“We already have a demographic crisis: in a decade, the number of Poles has decreased by almost two million people. You can slightly change the trajectory of this dangerous meteorite, but it will definitely hit us”the article says.

Referring to the OECD data, the publication noted that due to the aging of the population, Poland may face a debt crisis: the volume of external borrowing by the middle of the century could grow from the current 55% to 140%.

Among the problems of the country at the current stage, the financier named a large proportion of pensioners: the authorities are striving to fulfill their obligations to the older generation – to provide them with medical care and maintain the level of payments, but at the same time do nothing with other areas. As a result, expenses only increase, while the size of the pension in the country is only about 35% of the level of last earnings.

To keep the level of public debt at current levels, the authorities may raise taxes and raise the retirement age to 67 years, the publication says.

According to demographers, in 30 years there will be one pensioner per worker in Poland – against the current ratio of three to one.

Poland has been demonstrating one of the worst demographic indicators in the world in recent decades. Thus, since 1989, the total fertility rate has been below the generational replacement level (2.11 children per woman) and by 2021 has fallen to 1.38, a third less than the minimum required.

Last year, the number of newborns reached its lowest level in over a hundred years, with 305,000 children born in a country of 38 million people.

Source: Ren

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