Bulgaria: Shrinking Workforce Leading to Lower Growth

Bulgaria: Shrinking Workforce Leading to Lower Growth / Picture: © Wikimedia Commons / The Communist International (based on an artwork by Boris Kustodiev, d. 1927) [Creative Commons CC0 1.0 Universal Public Domain Dedication]

Bulgaria is facing a number of challenges resulting from shifting demographics in the country. The country is projected to face the steepest decline in the working age population worldwide - with 1 out of every 3 Bulgarians over the age of 65 by 2050 and only 1 out of every 2 of working age.

As more and more workers exit the workforce and fewer Bulgarians replace them, the need…