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SpanishOECD warns Japan of risks from ageing population
The Organisation for Economic Co-operation and Development (OECD) on Monday warned of the risks Japan faces due to its ageing population.
In 2017, there were 50 Japanese people aged 65 per hundred, while the rest were aged between 20 to 64, and this ratio is projected to rise to 79 per hundred in 2050, according to a report presented by OECD Secretary General Angel Gurria here.
“Half of the children born in Japan in 2017 are expected to live to the age of 107,” Gurria said during the presentation.
This implies that, unless a series of reforms are implemented, Japan will lose its working-age population by 25 per cent in 2050, reports Efe news.
The official estimates contained in the report indicate that if in 2018, social spending on elderly population accounted for 18.8 per cent of the GDP, in 2060, it will be 23.2 per cent if certain measures are not undertaken.
Read more @Business Standard
