In the next several decades the Bulgarian population will age and decrease and by 2050 the number of people in working age will considerably decrease.

This was revealed by Victoria Levin, economist at the World Bank, who presented a study of the financial institution on the labour market in Bulgaria.

According to the researchers participating in the survey, measures on increasing labour productivity should be taken in the future.

Levin noted that the economic growth of Bulgaria from the recent past was largely due to the construction sector, which relies on low-skilled labour.

However after the crisis these job opportunities have been irrevocably lost, investor.bg quotes her as saying.

The trend foreseen for the future is for increase in the demand for high-skilled workers, especially in the Information and Communications Technology (ICT) sector.

A 2013 study of the World Bank shows that since 1985 the Bulgarian population aged between 15 and 64 years decreased from nearly six million to five million.

The forecast is for the working age population to decrease in half in fifty years, which is not only due to the falling birth rate but also due to migration.

According to the study, the economic crisis exposed the weaknesses of the labour market in Bulgaria, with the young and less educated being the most affected groups.

The analysts highlight that the non-optimal functioning of the labour market is hampering the adaptation of the Bulgarian economy and its potential for growth.

The report notes that Bulgaria has to invest in increasing the skills of the population.

The researchers suggest that a better functioning labour market, which fully absorbs its labour resources, can help the country better adapt towards the demographic change and to improve the long-term economic perspectives.

The analysts claim that the low coefficient of labour market participation, especially among youth and Roma, and the high levels of unemployment are related to growing discrepancy between the demand and supply of skills.

One such discrepancy is the fact that sectors seeking high-skilled workers will generate demand for labour, while a large share of the labour force in Bulgaria is low-skilled.

The report adds that coefficients of labour market participation among the youngest (aged between 18 and 29 years) and the eldest (aged 50-65 years) are much lower than in other EU member states.

In both groups, large number of those permanently unemployed are women.

The experts note that with the aging of the population, attracting these segments will be of crucial importance.

The report concludes that Bulgaria lacks a culture of lifelong learning, with only 7 % of the working age population participating in some kind of education.

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