Economist, former Finance Minister of Sweden Anders Borg during a panel discussion on “Horizons of economic policy” at the Gaidar forum called adopted in 2018 the changes to the pension system in Russia a progressive step, reports “Lenta. ru”.
“In Sweden, recently also raised the retirement age to 67 years. And I think that Russia is moving in the right direction, despite some discontent among the population,” said Borg.
At the same time, the very pension system in Russia, the expert believes is far from ideal, but the main problem he sees is that the pension savings of citizens are not sufficiently involved in the country’s economy.
“The amount of pension savings of Russians coming to the stock market and its economy is only 4% of GDP. In Europe, particularly in Sweden, the figure is several times higher. In this direction you still need to work,” added the economist.
Anders Erik Borg served as Minister of Finance of Sweden from 2006 to 2014.
According to the approved in 2018 changes the age of retirement in Russia to 2024 will gradually reach 60 years for women and 65 for men.