Despite an economic recovery from the pandemic in the U.S. and other advanced economies, an unprecedented demographic transition due to an aging population will lead to a significant decline in global growth over the next decade, Moody's reported.
"We estimate that aging is likely to reduce global economic growth by 0.9 percentage points per year over 2020-25," the report said.
The slowdown in global population growth comes after several years of declining productivity growth, and amid rising debt levels due to the pandemic. "Aging will further increase the fiscal burden as health care and Social Security costs rise," the analysts point out.
Translated with www.DeepL.com/Translator (fr