Georgieva noted that in East Asia, particularly in Japan, the aging of the population is occurring at the fastest pace, and now pension expenditures already account for 9–10% of the gross domestic product (GDP). In this regard, it is important to develop systems that distribute the responsibility for pension savings among the state, employers, and citizens.
She emphasized that for countries with a growing population, one of the main issues remains youth unemployment. According to the IMF leader, it is necessary to actively create new jobs, especially in the service sector, which can offer a significant number of vacancies.
Georgieva also pointed out the impact of technology. According to the fund's estimates, the implementation of artificial intelligence could contribute to economic growth in developing countries in Asia by 0.2–0.8%, and in developed countries by 0.5–1%.
Thailand's Deputy Prime Minister, Ekniti Nitithanprapas, added that in his country, more than 30% of the population will be over 65 years old in the coming years, leading to an even greater labor shortage. As a solution, he suggested actively developing cooperation at the regional level and redistributing labor resources among Asian countries.
“If we improve our interaction, we can compensate for the labor shortage in one country with the unemployed in another. Closer cooperation will help us address common challenges,” he noted.
According to him, upskilling workers and implementing technologies, including artificial intelligence, will be important factors in combating demographic challenges in the region.
