Italy spends nearly third of annual budget on pensions; Less than 37% of the 55-64 age cohort gainfully employed
Nov 11th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Italy spends almost a third of its annual budget on pensions and as a ratio of gross domestic product (GDP), the spending is the highest in the world. Not even 37% of the 55-64 age cohort are gainfully employed.