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Bulgaria: Shrinking Workforce Leading to Lower Growth

Politics ♦ Published: October 4, 2013; 12:24 ♦ (Vindobona)

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Bulgaria is facing a number of challenges resulting from shifting demographics.

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…