• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

2

Power companies are using eminent domain to seize land for data centers as 70% of Americans say not in my backyard

3

Red Lobster’s 37-year-old CEO waited tables before joining the C-suite—he says it was a crash course in managing ‘difficult people and situations’

1

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

2

Power companies are using eminent domain to seize land for data centers as 70% of Americans say not in my backyard

3

Red Lobster’s 37-year-old CEO waited tables before joining the C-suite—he says it was a crash course in managing ‘difficult people and situations’
PoliticsRussia
Europe

Russia’s population is in a historic decline as emigration, war and a plunging birth rate form a ‘perfect storm’

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
October 18, 2022, 5:50 AM ET
A woman walks on a bridge in front of skyscrapers of Moscow's International Business Centre (Moskva City) and the Russian Foreign Ministry building (L) in Moscow on Oct. 13th.
A woman walks on a bridge in front of skyscrapers of Moscow's International Business Centre (Moskva City) and the Russian Foreign Ministry building (L) in Moscow on Oct. 13th.YURI KADOBNOV—AFP via Getty Images
Add Fortune on Google for similar content.

President Vladimir Putin spent years racing against Russia’s demographic clock, only to order an invasion of Ukraine that’s consigning his country’s population to a historic decline. 

Besides casualties in the thousands on the battlefield, the enlistment of 300,000 reservists to join the fight — and an even bigger flight of men abroad — is derailing Putin’s goals of starting to stabilize the population already this year.

Crippling disruptions from the war are converging with a population crisis rooted in the 1990s, a period of economic hardship after the Soviet breakup that sent fertility rates plunging. Independent demographer Alexei Raksha is calling it “a perfect storm.”

Plans by Putin’s government had set the goal of starting to reverse the decline in the population in 2022 before growth should resume in 2030. Yet weeks before the mobilization was announced in September, an internal report drafted for a closed-door meeting showed officials were already concluding those targets were unrealistic.

Citing the consequences of the coronavirus and migration outflows, the report instead proposed a revision that envisaged a decrease of 416,700 people in 2030.

Should military operations continue in the coming months, as expected, Russia may see less than 1.2 million births next year, the lowest in modern history, according to Igor Efremov, a researcher and specialist in demographics at the Gaidar Institute in Moscow. Total deaths in Russia average close to 2 million annually, though the number increased during the pandemic and approached 2.5 million last year.

‘Chief Blow’

“The chief blow to the birth rate will be indirect, because most families will have their planning horizon completely destroyed as a result,” Efremov said. “And the impact will be stronger the longer the mobilization lasts.”

A demographic reckoning has arrived for Russia, its economy starved of young employees and now at risk of stagnation or worse long after the war is over. Bloomberg Economics now estimates Russia’s potential growth rate at 0.5%, down two percentage points from before the war — with demographics accounting for about a quarter of the downgrade.

Unfavorable demographics in the areas of Ukraine that Putin plans to annex is only likely to add to the challenges Russia faces from a growing population burden, Renaissance Capital economists said in a report this month.

While demographic traumas usually play out over decades, the fallout of the invasion is making the worst scenarios more likely — and much sooner than expected.

For Putin, who just turned 70, Russian demography has long been an existential issue, and just last year he declared that “saving the people of Russia is our top national priority.” He’s presided over efforts to buy time with costly policies that contributed to a steep gain in longevity and ranged from lump payments for new mothers to mortgage relief for families. 

But as Russia approached the invasion of Ukraine in February, it was coming off its deadliest year since World War II — made worse by the pandemic — with the population in decline since 2018. It reached 145.1 million on Aug. 1, a fall of 475,500 since the start of the year and down from 148.3 million in 1991, when the Soviet Union collapsed.

The continuation of the military campaign and mobilization until the end of next spring would be “catastrophic,” according to Efremov, likely bringing births down to just 1 million in the 12 months to mid-2024. The fertility rate may reach 1.2 children per woman, he said, a level Russia saw only once in 1999-2000. 

A fertility rate of 2.1 is needed to keep populations stable without migration.

“It is likely that in conditions of uncertainty, many couples will postpone having children for some time until the situation stabilizes,” said Elena Churilova, research fellow in the Higher School Economics’s International Laboratory for Population and Health. “In 2023, we are likely to see a further decline in the birth rate.”

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

About the Author
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

A woman in a red shirt, surrounded by other people, cheers and holds a fist in the air.
Economycompensation
The minimum wage is now the lowest it’s been in 70 years—making the federal wage floor ‘officially a poverty wage,’ report finds
By Sasha RogelbergJuly 20, 2026
1 hour ago
President Donald Trump holding up a printed out Truth Social post
InvestingDonald Trump
‘Milliseconds matter in modern markets’: How Trump’s Truth API, and less frequent SEC filings, could create a ‘two-tiered market’
By Mia OsmonbekovJuly 20, 2026
1 hour ago
The U.K. is getting a new prime minister, but bond investors are really in charge and ‘hyper-reactive,’ Wall Street veteran says
EconomyUK
The U.K. is getting a new prime minister, but bond investors are really in charge and ‘hyper-reactive,’ Wall Street veteran says
By Jason MaJuly 19, 2026
12 hours ago
t
PoliticsWhite House
Trump officials were trying to use a Biden rule to gut billions in grants — a judge just said no
By Michael Casey and The Associated PressJuly 19, 2026
17 hours ago
t
North AmericaWorld Cup
Trump hails World Cup as huge win for America: ‘It turned out we were a soccer country, and I think it’s going to remain’
By Seung Min Kim, Josh Boak and The Associated PressJuly 19, 2026
17 hours ago
jon
PoliticsElections
The Democrats suddenly have a 39-year-old Senate warrior tearing into Trump and ‘Prince Don and Prince Eric’: Jon Ossoff
By Bill Barrow and The Associated PressJuly 19, 2026
17 hours ago

Most Popular

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
1 day ago
Power companies are using eminent domain to seize land for data centers as 70% of Americans say not in my backyard
AI
Power companies are using eminent domain to seize land for data centers as 70% of Americans say not in my backyard
By Aaron Walayat and The ConversationJuly 19, 2026
24 hours ago
Red Lobster’s 37-year-old CEO waited tables before joining the C-suite—he says it was a crash course in managing ‘difficult people and situations’
Success
Red Lobster’s 37-year-old CEO waited tables before joining the C-suite—he says it was a crash course in managing ‘difficult people and situations’
By Preston ForeJuly 19, 2026
1 day ago
Indeed chief economist: Aging Baby Boomers are America's real labor problem, not AI
Commentary
Indeed chief economist: Aging Baby Boomers are America's real labor problem, not AI
By Svenja GudellJuly 18, 2026
2 days ago
Iran just crossed Trump's red line for resuming all-out war as fighting continues to escalate with no end in sight
Middle East
Iran just crossed Trump's red line for resuming all-out war as fighting continues to escalate with no end in sight
By Jason MaJuly 18, 2026
1 day ago
A decade after the ‘Godfather of AI’ said radiologists were obsolete, their salaries are up to $571K and demand is growing fast
AI
A decade after the ‘Godfather of AI’ said radiologists were obsolete, their salaries are up to $571K and demand is growing fast
By Marco Quiroz-GutierrezJuly 19, 2026
19 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.