Percentage Of People Over 60 In Romania’s Population To Double To 39.5% By 2050

The percentage of people over 60 in Romania’s population will double over the next 40 years and will reach 39.5% by 2050, which will trigger an increase in state spending on pensions and healthcare from 13.1% of GDP in 2007 to 23.2% of GDP in 2060, according to a study by German insurer Allianz.

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"Aging societies are either already a reality or soon will be in many countries," the study shows. The increase in life expectancy increases government spending on pensions, health and care.

In the eurozone, government spending on pensions, health and care are seen reaching 30% of gross domestic product in 2060. In Romania, these expenses are expected to reach 23.2% of GDP in 2060, compared to a rate of 13.1% of GDP in 2007.

The study shows pension expenses in Romania will see the biggest increases, of over nine percentage points of GDP in about 50 years, from 6.6% of GDP in 2007, to about 15.8% of GDP in 2060.

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