The economist outlined the prospects of the labor market in light of the demographic crisis.
Economist Edgars Volskis stated in a discussion on TV-24 that the current pension system could be viable until 2050, provided that it is not radically changed and demographic issues are addressed.
"In the long term, the main challenge will be the labor market — due to demographics, the number of workers is decreasing, and by 2030, there may be a shortage of about 100,000 workers.
This shortfall will likely have to be compensated by migration, although this is a topic that society tends to avoid discussing. The crucial issue is not migration itself, but the state's ability to integrate migrants so that they become taxpayers rather than welfare recipients," the economist said, concluding that the missing 100,000 workers will indeed have to be attracted from abroad.
