Population ageing and declined in birth rates are among the major challenges to Belarusian economic development. The labor force is projected to decline, and the Social Protection Fund would run into deficits. To make the pension system sustainable, we need to switch to a partially funded pension system. To stimulate fertility, we need to support combining parenthood with labor force participation, and redirect funding on early development. Emigration and immigration are also challenging, and demand pro-active policies.
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