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Africa will shape global economy by end of 21st century

"By the middle of this century, 25% of the world’s entire working-age population will reside in Africa," Deputy Chief of Staff of the Russian Presidential Executive Office Maxim Oreshkin said

SAINT PETERSBURG, June 18. /TASS/. The future trajectory of the global economy by the end of the 21st century will largely depend on African nations, Deputy Chief of Staff of the Russian Presidential Executive Office Maxim Oreshkin said in an interview with RBC on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"The way the global economy will look, how sustainable it will be, and its capacity for development by the end of the 21st century - all of this will depend on Africa," Oreshkin stated. "By the middle of this century, 25% of the world’s entire working-age population will reside in Africa. The future of humanity hinges on how education evolves in African countries, how human capital is preserved and expanded, and how new technological solutions are implemented," he added.

He emphasized that the African region is of strategic importance not today, but in the decades to come.

"At present, Africa is a region of enormous potential, primarily demographic while the rest of the world will grapple with demographic crises. We’re already witnessing what’s happening in Southeast Asia, in countries like South Korea, and China is facing critical demographic challenges. Harnessing Africa’s demographic potential is a cornerstone issue for humanity in the 21st century," he concluded.

About the forum

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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