Large parts of Europe are currently experiencing a demographic crisis. Greece is one in every of the countries suffering essentially the most.
It has one in every of the bottom fertility rates within the region – comparable to other countries which can be offended concerning the same problemlike China and Japan – which the Greek Prime Minister has described as a “ticking time bomb”.
The birth rate within the country has been declining steadily yr after yr, and 2022 marks the bottom level in nearly a century.
The government is now taking measures to avert a possible population decline because the economy ages and the necessity for labor increases.
Last week, Greece announced a series of measures to assist increase the birth rate through additional childcare advantages and tax breaks for folks.
The European country spends 1 billion euros annually to advertise births. Reuters reportedand already offers incentives resembling maternity advantages and subsidies on baby products. The recent measures are a part of the federal government’s plans to extend birth rates.
But without the economic stimulus that comes with it, all efforts to encourage people to have more children might be in vain. Greece is the second poorest country within the European Union. That is why the country also announced a rise in pensions and the minimum wage starting next yr.
A mix of social and economic aspects explains Greece’s predicament. About twenty years ago, an economic nosedive plunged the country into high levels of debt and austerity, dwarfing Greeks’ employment prospects and prompting them to emigrate in quest of higher opportunities abroad. While Greece experienced population growth through wars, it lost its largest qualified professionals through the financial crisisThese have far-reaching consequences, including the country’s labour shortage and ongoing demographic decline.
The Greek economy is in a greater position today. increased 2% in 2023, but continues to be significantly smaller than in 2007Challenges resembling high unemployment and inflation remain Effects the choice to start out and expand families. An ageing population could put further strain on an economy that’s already burdened with high debt.
It will be difficult to interrupt out of a trend that’s inextricably linked to people’s lifestyle.
But no less than Greece has the identical problems as other countries like Italy. Russia can be facing a population decline, albeit for various reasons, triggered by the invasion of Ukraine.
Hungary faces an identical dilemma. In the hope that folks will take into consideration starting a family, the country is offering loans of 30,000 euros and subsidies.
Ultimately, reversing the social fabric in individual countries just isn’t an isolated process; it requires working hand in hand with economic and financial policy.
