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Population projected at 6.9 million by 2030 with strong Singaporean core (ChannelNewsAsia)
SINGAPORE: Singapore’s population could hit 6.9 million in 2030 – up from the current 5.3 million – if strategies outlined in the White Paper on Population to mitigate the country’s ageing and shrinking population are met.
The population projection also takes into account a lower GDP growth rate beyond 2020.
The White Paper on Population, released on Tuesday, is the first comprehensive report to outline the country’s strategy to ensure a sustainable population.
The numbers are grim — by 2025, Singapore’s citizen population size will start to decline.
Between now and 2030, over 900,000 baby boomers will retire from the workforce — that is more than a quarter of Singapore citizens.
At the same time, Singapore’s fertility rate has been falling. For the past 30 years, the total fertility rate (TFR) has been below the replacement level of 2.1.
Last year, the TFR was about 1.3, according to preliminary figures.
By 2030, more people will exit than enter the workforce. By 2050, there will be more people above the age of 50 than younger Singaporeans.
It is an outlook that has prompted the government to say it needs to act now, before it is too late.
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