The forecast for the current health expenditure in the Philippines shows a consistent increase as a percentage of GDP from 2024 to 2028. Starting from 5.94% in 2024, it is projected to reach 6.38% by 2028. This trend indicates a steady rise of about 2% year-on-year, demonstrating a continuous governmental and societal emphasis on healthcare investment.
In 2023, the current health expenditure stood at 5.83% of GDP. The increase from 2023 to 2024 is approximately 1.89%. The compound annual growth rate (CAGR) over the forecast period from 2024 to 2028 is anticipated to be around 1.81% per year. This steady growth reflects a sustained commitment to enhancing healthcare infrastructure and services.
Future trends to watch for include potential changes in healthcare policies, economic impacts from external factors such as global pandemics, and shifts in population demographics that may influence healthcare needs and funding priorities. Monitoring these factors will be crucial in understanding and anticipating future fluctuations in health expenditure.