Ageing

Bulgaria Faces Demographic Crisis with Population Decline of 2.5 Million Over the Last 30 Years

Bulgaria is grappling with a serious demographic crisis, as the country's population has decreased by approximately 2.5 million people since the early 1990s. This decline is attributed to several factors, including low birth rates, an aging population, and significant emigration, particularly during the period from 2012 to 2019.

Demographic problem grows

In 2022, births in Greece fell below 80,000 for the first time, compared to 150,000 in 1980. Therefore, half of Greece's population is now over 46 years old, when in 2000, the median age was 39, per the official estimates.

Population decline is a harsh reality

"More immigration is necessary. Existing projections already assume substantial immigration, which, however, is insufficient to reverse aggregate aging." This bold statement was made recently by Rolf Strauch, chief economist of the European Stability Mechanism, in his latest report on demographics and financial stability.

Moody’s demographic alarm

Moody's warned on Tuesday that worsening demographics and the increase in the dependency ration of the elderly constitute a serious fiscal challenge as well as a cause of downgrades of states' ratings. Greece, as it states, is expected within the next decade to have the fifth highest dependency ratio among all developed economies internationally.

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