Population Growth Analysis of Russia
The population of Russia in 2021 reached 143.9 million people. Between 2015–2021, the population of Russia has been steadily declining at a negative growth rate of 0.1%. Furthermore, the population of Russia in 2022 is expected to further decline, mainly attributable to unemployment, COVID-19, and brain drain. The birth rate also reported a steady decline which may be attributed to a declining trend in Russia’s population.
Population Age – Split
As of 2020, a significant percentage of the population was aged below 14 years of age, the majority population within 15–64 years, and the rest above 65 years. The old-age population’s share is rising and is expected to reach by 2025, from 2020. According to the government, the population shrank a lot in 2020 compared to 2019. As of January 2021, the Russian population stood at a particular number compared to January 2020, which indicates the sharpest decline in many years. The declining population in the country will increase the old age population’s share, increasing the burden on the government’s finances. The workforce is expected to shrink, leading to reduced human capital.
Aging Population of Russia
Russia’s working-age population, (aged between 15 and 64 years) decreased from 2005 to 2020. The share of the working-age population is expected to rise in 2025. The country’s declining population growth will increase the old age population’s share and therefore increase the financial burden on the government. At the same time, the workforce will shrink, leading to a shortage of human capital in the economy. Russia is highly urbanized. Large cities such as Moscow and St Petersburg are home to large sections of the population.
Key Highlights
Social security and welfare programs offer modest support for the most vulnerable sections of Russia's population. Pensioners, senior citizens, infants and children, pregnant mothers, families with more than one child, and people with disabilities benefit from these welfare programs. The Ministry of Healthcare and Social Development is the regulatory authority in charge of handling welfare programs.
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