In 2023, Finland led in general government expenditures on social protection, with Italy, Germany, and Denmark close behind. Notable year-on-year increases occurred in Greece, Spain, and Portugal, highlighting a trend towards heightened social spending in Southern Europe. Contrastingly, countries like Switzerland, Norway, and Sweden saw slight reductions. The U.S. remained at the bottom with minimal changes, reflecting its conservative fiscal stance on social protection. Over the past five years, there’s been a gradual increase in social expenditure, with countries like Latvia and Iceland showing significant annual growth rates.
Future trends to monitor include the potential for increased expenditures in countries with aging populations, such as Japan, and fiscal policy changes in response to economic challenges. Additionally, austerity measures in nations with high debt could dampen growth in social spending.
Top countries in General Government Expenditures on Social Protection by Country
| # | 10 Countries | Percent of General Government Expenditure | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Finland | 46.2 | 2023 | +0.46% | +0.35% | View data |
| 2 | 2 Italy | 44.58 | 2023 | +0.68% | +0.86% | View data |
| 3 | 3 Germany | 43.95 | 2023 | +0.14% | +0.21% | View data |
| 4 | 4 Denmark | 43.55 | 2023 | +0.023% | +0.13% | View data |
| 5 | 5 Greece | 43.47 | 2023 | +1.02% | +1.26% | View data |
| 6 | 6 France | 43.27 | 2023 | +0.16% | +0.16% | View data |
| 7 | 7 Luxembourg | 43.09 | 2023 | +0.19% | +0.22% | View data |
| 8 | 8 Spain | 42.82 | 2023 | +0.9% | +1.11% | View data |
| 9 | 9 Japan | 42.26 | 2023 | +0.36% | +0.41% | View data |
| 10 | 10 Austria | 41.97 | 2023 | +0.21% | +0.28% | View data |
