Aging Population and its Impacts on Fiscal Sustainability

Addressing vulnerability and promoting security
Posted Nov 11, 2019 | G20 Insights, Chul Ju Kim, Pitchaya Sirivunnabood, Naoyuki Yoshino

There are some 962 million people aged 60 or over in the world, 13 percent of the population. Most projections for the G20 community reveal a significant degree of population aging with multifaceted impacts, i.e., deteriorating fiscal balances, changes in patterns of saving and investment, shortages in labour supply, inadequate welfare systems, and in developing economies, a possible decline in productivity and economic growth, and ineffectiveness of macroeconomic policy. In this Policy Brief for G20 Insights, Chul Ju Kim, Pitchaya Sirivunnabood and Naoyuki Yoshino offer recommendations on comprehensive structural and public finance, and pension reforms.


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