Greece is facing a drastic decline in birth rates, prompting the government to implement a 20 billion euros ($22 billion) plan to boost incentives for families. The plan includes cash benefits and tax breaks and aims to combat the country’s low fertility rate of 1.3, well below the 2.5 needed for population growth.
Prime Minister Kyriakos Mitsotakis has labeled the demographic crisis as a national threat, citing concerns about the impact on pensions and overall fiscal sustainability. The National Demographic Action Plan is designed to address the challenges posed by Greece’s shrinking and aging population, aiming to improve long-term competitiveness and social cohesion.
Despite the ambitious plan, experts remain skeptical about reversing the trend, given the ongoing economic crisis and mass emigration of Greeks. The government acknowledges the urgency of the situation and emphasizes the goal of enhancing the standard of living for all citizens.
As Greece grapples with the implications of a declining workforce and shrinking output, the implementation of these measures will be crucial for securing the country’s future prosperity.
[Source: Reuters]
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