World Bank sees Russia’s workforce down 10% by 2030

MOSCOW, Sep 26 (PRIME) -- Russia’s workforce will contract by 10% by 2030, World Bank’s Lead Economist Apurva Sanghi said on Tuesday in a conference hosted by international rating agency Fitch.

“We forecast the workforce to fall by 10% by 2030. It will be an additional factor of tensions that will be a burden for the pension system,” he said.

On Monday, Economic Development Minister Maxim Oreshkin said that Russia’s demographic situation is dire and the country will be losing about 800,000 people of working age per year in the next five or six years. On September 19, the Federal State Statistics Service said that the number of economically active people in the country stood at 76.9 million.

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