'Silver economy' in Latvia is our opportunity and also our duty - Silina

RIGA - The "silver economy", or the economy related to the ageing society and the needs of seniors, is our common opportunity and duty in Latvia, Prime Minister Evika Silina (New Unity) said while addressing the participants at the Seniors' Day in the parliament today.

The prime minister pointed out that the "silver economy" is becoming increasingly important both in Latvia and across Europe. "It is a concept that encompasses not only care for seniors, but also an understanding of the potential, knowledge and contribution to the development of our society and economy," said Silina.

According to Silina, we are used to thinking that young people, innovation and technology are the driving forces of the economy. But in today's society, it is becoming increasingly clear that people of a respectable age are also an important part of this development, the prime minister stressed.

"The number of seniors in Latvia's population is growing, which means that we need to change our thinking - not just about "caring" but also about "opportunities". The "silver economy" is an opportunity to look at the experience, knowledge, skills and energy of seniors as a resource," the prime minister said.

Silina pointed out that there are three key areas where public policy in Latvia is directly relevant to seniors. One of them is security and social protection - pension system, social benefits, accessible services. "Our goal is not only to ensure financial stability, but also to create confidence that the state does not forget seniors and always takes care of their needs," said Silina.

The second is health and care. As Silina pointed out, quality of life is largely determined by access to healthcare. "The role of the state is not only to provide treatment, but also to promote prevention, an active lifestyle and support in everyday life. Participation and active everyday life for seniors - this is an area that is particularly closely linked to the "silver economy"," said Silina.

According to the prime minister, everyone wants people of a respectable age to be active in society, whether in the labor market, volunteering, interest education or cultural life. "We support lifelong learning and digital skills so that seniors can make full use of modern technologies. It is not just about comfort, but also about being part of society and not losing touch with the younger generations," said the prime minister.

As Silina pointed out, the "silver economy" opens the door to thinking that seniors are not only recipients of support, but also givers. "We often forget that it is seniors who preserve the wisdom, experience and traditions of our people, but this is also a very important resource for the economy - an active senior is someone who continues to consume, add value and create jobs," said Silina.

She stressed that seniors are increasingly choosing to continue working beyond retirement age. "It is not just about income, it is also about self-esteem, the feeling that you are needed and can still contribute to society," the prime minister said.

The challenge for the state, she stressed, is to create the conditions in which such participation is possible - through flexible employment, lifelong learning and labor market support. "If we see the "silver economy" as a development opportunity, everyone benefits - for seniors it means dignity, security and an active life - and for society it means solidarity and the transfer of experience," said Silina.

The "silver economy" is not just an economic concept, Silina said. In her view, it is also a value system. "It teaches that every generation is important and that society is stronger when all its members - regardless of age - can feel belonging and needed," said Silina.