The global GDP grows to nearly $100 trillion by 2019, 30 percent higher than 2014. But the growth is primarily driven by emerging economies as some of the largest developed economies continue to face prolonged fiscal stress, struggling to control spending and a spiraling debt-to-GDP ratio. Additionally demographic shifts in some of the developed economies give rise to “super-aged” nations. By 2020, 13 countries (34 countries by 2030) fall into this category, where more than a fifth of the population is 65 years or older. The demographic pressures are drag on the economy as revenue growth slows and retirement and health care expenditures increase.
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