Take the following as truth: Recent economic research estimated that increasing saving as a share of GDP by one percentage point above the 1999 rate would boost GDP enough to cover 95 percent of the increase in elderly costs between now and 2050.
Then the following statement: "Only one percent above the 1999 savings rate needs to be saved to cover most of the increase in elderly costs until 2050." is true, false, or inconclusive?
Answer: True