November 11, 2026
Developing economies are facing a severe structural crisis represented by the inability of the labor market to absorb new entrants, with the job gap estimated at about 800 million job opportunities over the next 15 years.
In this context, the President of the World Bank Group, Ajay Banga, revealed during the Climate Finance Summit held in the Turkish city of Antalya, that about 1.2 billion young people in emerging economies will reach working age during the next decade and a half, while expectations indicate that these countries will be able to provide only 400 million new jobs, based on Bloomberg reports.
Banga warned of the profound repercussions of this gap, pointing to its direct effects on poverty levels, prosperity, and migration rates, as well as its repercussions on general stability.
The President of the World Bank explained that developing economies are suffering from worsening development challenges, which are embodied in high levels of debt, the expansion of conflicts, as well as difficulties related to enhancing the ability of infrastructure to withstand natural disasters.
Banga concluded by pointing out that these facts have led to a reduction in the financial resources available to these countries, which greatly limits their ability to achieve their desired development ambitions.
