Demographic decline pushes Italy's pension system towards major deficit: INPS experts

ROME, June 20 (Xinhua) -- Ageing and demographic decline in Italy will weigh on the country's pension system in the next ten years, putting the public pension scheme at risk of a major deficit, experts with the National Institute for Social Security (INPS) warned on Thursday.

If not reversed, this would cause the institute's balance sheets to drop from a positive balance of 23 billion euros (24.6 billion U.S. dollars) in 2023 to an estimated negative 45 billion euros in 2032, according to INPS policy and supervisory board (CIV).