Italy's population could shrink by 11.5 million by 2070 - statistics agency

People walk down a street near the parliament in Rome, Italy September 22, 2022. REUTERS/Guglielmo Mangiapane

ROME (Reuters) - Italy's population is set to decline by almost a fifth over the next five decades as a result of a steadily falling birthrate, the country's statistics agency ISTAT said on Thursday.

A shrinking and ageing population is a major worry for the euro zone's third-largest country. Among other things, it is linked to falling productivity and higher welfare bills.