An aging society and expansive welfare system: How Finland is becoming Europe's Japan
The challenge for Finland and for Rinne, whose Social Democrats secured a narrow victory in April's election, is of broader interest because, while the country is aging faster than its neighbors, some of them aren’t far behind. Countries across Europe, from Germany to Italy to Portugal, are also set to see the proportion of elderly citizens in their populations rise.
“Of course it is a worry,” said Johannes Moisio, who sits on the regional council. “Municipal finances are already under pressure. things like hospitals and housing for the elderly are a big burden on municipalities, these types of services are very expensive.” There, economic growth has slowed to a standstill and strenuous fiscal and monetary policy efforts by the country’s leaders have yet to reenergize the economy.
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