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Population ageing likely to power economic growth in Bulgaria

БНР Новини
Photo: BGNES

Amid a public discussion of the draft for a National Program for Occupational Safety and Health 2018-2020, the Bulgarian News Agency (BTA) has circulated the views and comments of leading experts on its variety of aspects. The program reads that with the advancement of pension reform the length of active life at work tends to increase and the overall ageing of the population results in a growing share of old workers in enterprises.

In an interview for BTA the CEO of the Balkan Institute for Labor and Social Policy Ivan Neykov draws an analogy with developments in Germany to conclude that in Bulgaria too, population ageing could power economic growth.

Bulgaria ranks third across Europe as per the average age of the nation. No. 1 is Germany but unlike Bulgaria no one there complains of an ageing workforce and that country is a leader in economic development.

Today the numbers of young people who join the labor market in Bulgaria are below numbers seen 20 years ago, and according to Neykov, this implies that in the coming two decades the big reserve on the internal labor market will not be young people but rather older generations. In this regard the expert believes that legislative changes are needed to more effectively tap their potential. This should include the introduction of flexible working hours, more frequent medical checks and specific assessment of risk in the workplace.

This might not look appealing to employers as they have to spend more money on this process, but according to Neykov, they will in return be able to rely on more loyal, disciplined and highly qualified workers compared to newcomers who often switch jobs looking for more luring wages.

A similar thesis has been laid out to BTA by Alexander Zagorov, expert and Confederation Secretary at Podkrepa Labor Confederation. He recalls the rule that one euro invested by employers in occupational safety brings 10 euro in profit. Zagorov however points out that solutions for improving conditions at work should not be applied based on the principle of age and should be valid for all.

The draft of theNational Program for Occupational Safety and Health 2018-2020 notes that a decline in the number of women in the workforce is not expected once a legislative basis has been created for combining maternity and professional life. On the contrary, the document forecasts an increasing role and participation of women in some traditionally male jobs and sectors.

The predictions for the development of the labor market in Bulgaria are not radically different from predictions for the whole of the European Union. In the period from 2010 until 2030 the number of individuals aged from 55 to 64 years in the 28 member states of the bloc will grow by 16 percent. For this reason recommended policies for the EU are focused on providing enough opportunities for old workers to remain active and productive for a longer time.

Compiled by Stoimen Pavlov

English Daniela Konstantinova




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