Forecast: Health Expenditure in South Africa

The health expenditure in South Africa has shown a consistent upward trend from 2013 to 2023, increasing from 8.78% of GDP in 2013 to 9.26% in 2023. This upward trajectory continues in the forecasted data, reaching 9.48% by 2028. Year-on-year growth has gradually decelerated, from 0.77% in 2015 to 0.5% in 2023. The last five years have exhibited a modest CAGR of 0.53%.

Future trends to watch for:

• The forecasted CAGR for the next five years is expected to slow down to 0.37%, indicating a more moderate growth rate compared to the past five years.
• Factors like policy changes, economic conditions, and health sector innovations could impact the trajectory of health expenditure.
• Attention to healthcare infrastructure investments and public health initiatives will be crucial in shaping future expenditures.