Eastern Europe News

Russia Says Technology Will Overcome Demographic Decline

Image by Ministry of Economic Development of Russia

The Minister of Economic Development of Russia, Maxim Oreshkin, today declared that new technologies will help Russia deal with the loss of population over the next decade when hundreds of thousands of Russians will leave the work force and not be replaced due to a declining birth rate. An increase in productivity and economic growth will lessen the effects on the Russian economy according to the minister.

“In Russia, the situation for the next five to six years in terms of demography is one of the most difficult in the world. We will lose approximately 800,000 people of working age due to the demographic structure. Therefore, using new technologies that increase labor productivity is a way for Russia to allow the economy to grow under conditions of a low inflow of new personnel,” he said, reported Russian state news agency TASS.

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Oreshkin said technology “helps people acquire new knowledge, develop, and change jobs. This whole story means a recovery for Russia.”

Nations around the world have been struggling with how technology and artificial intelligence (AI) will impact the ability of humans to find work to support themselves. In the U.S., many hi-tech titans have floated the idea of ‘free money’ to fix the problem, the idea being that technology will create so much wealth that people can be paid just to be alive. Russia, after experiencing seventy years of communism, and its horrific effects, probably doesn’t have much faith in that argument.

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Oreshkin added “that the demographic situation worldwide is complicated, so “introducing new technologies will help humanity move forward.”

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