Population ageing will weigh on economic growth among OECD countries

In the latest Employment Outlook 2025 OECD claims that population ageing will weigh significantly on economic growth in the OECD countries. The organization estimates that without a significant improvement in productivity gains, GDP per capita growth would slow down by about 40% in the OECD area (from 1% per year in 2006-19 to 0.6% per year in 2024-60 on average). Looking at cumulated GDP per capita growth, OECD expects it to be 25% higher compared to 47% increase if population aging would not be happening. The CEE countries will need to face negative impact stemming from declining working-age population in particular. OECD shows that, by 2060, OECD working age population (aged 20 to 64 years) will be lower by 8 percentage points. Hungary, Czechia and Slovenia will see decline of working age population by roughly 25 percentage points, Slovakia by more than 30 percentage point while Poland by almost 40 percentage points by 2060.