The title might sound like an extreme case of pronatalisim – a policy that supports higher birth rates. But it is on the rise across the world – from Chief Ministers of South Indian states to Donald Trump himself – governments are exhorting people to have more babies.
“In some parts of Russia, schoolgirls who become pregnant are being paid more than 100,000 roubles (nearly £900) for giving birth and raising their babies.
This new measure, introduced in the past few months across ten regions, is part of Russia’s new demographic strategy, widening the policy adopted in March 2025 which only applied to adult women. It is designed to address the dramatic decline in the country’s birthrate.
In 2023 the number of births in Russia per woman was 1.41 – substantially below 2.05, which is the level required to maintain a population at its current size.
… Viktor Orban’s government in Hungary is offering a range of incentives, such as generous tax breaks and subsidised mortgages, to those who have three or more children. Poland makes a monthly payment of 500 złoty (£101) per child to families with two or more children…. In the United States, Donald Trump is proposing to pay women US$5,000 (£3,682) to have a baby”
But these policies don’t seem to have had much effect as people are choosing to have fewer children for reasons beyond economic. “Personal preferences and aspirations, beliefs about their ability to provide for children, as well as societal norms and cultural and religious values all play a part in these decisions.”
The alternative means to arrest population decline seems to be the controversial subject of immigration. “One country seeking to address population decline with policies, other than encouraging women to have more babies is Spain, which now allows an easier pathway to citizenship for migrants, including those who entered the country illegally. Madrid’s embrace of immigrants is being credited for its current economic boom.”
Whether it is promoting childbirth or immigration, government policies are designed to encourage certain type of citizens: “Incentives for pregnancy, childbirth and large families are typically targeted at those whom the state regards as its most desirable citizens. These people may be desirable citizens due to their race, ethnicity, language, religion, sexual orientation or some other identity or combination of identities.
For instance, the Spanish bid to increase the population by increasing immigration offers mostly Spanish speakers from Catholic countries in Latin America jobs while opportunities to remain in, or move to, the country does appear to be extended to migrants from Africa. Meanwhile, Hungary’s incentives to families are only available to heterosexual couples who earn high incomes.”
If you want to read our other published material, please visit https://marcellus.in/blog/
Note: The above material is neither investment research, nor financial advice. Marcellus does not seek payment for or business from this publication in any shape or form. The information provided is intended for educational purposes only. Marcellus Investment Managers is regulated by the Securities and Exchange Board of India (SEBI) and is also an FME (Non-Retail) with the International Financial Services Centres Authority (IFSCA) as a provider of Portfolio Management Services. Additionally, Marcellus is also registered with US Securities and Exchange Commission (“US SEC”) as an Investment Advisor.