Reuters: Italy’s demographics worst in Europe for growth

According to the Scope Ratings agency, Italy’ s demographics are the worst in Europe in terms of economic growth potential between 2023 and 2040, with a rapidly aging population posing a threat to public finances, Reuters reports

photo: www.reuters.com

In 2023, the birth rate in Italy – which has been declining for the past 15 years – reached a record low of 379 thousand people: the lowest figure since 1861, according to official data.

“Italy’s working age population is set to record an almost 19 percent decline between 2023 and 2040 – the biggest reduction in Europe – outpacing reductions expected in Germany, Spain (both at 14 percent) and France (2 percent),” the agency’s report reads.

The employment rate in Italy is also the lowest of all the European Union member states. Last year, 66.3 percent of Italians aged 20-64 had a job, while the EU average indicator stands at 75.3 percent, according to Eurostat data.