The general government expenditures on social protection in Japan have been on a steady upward trend, with forecasted values increasing from $919.14 billion in 2024 to $960.24 billion in 2028, expressed in USD PPP. In 2023, these expenditures were recorded at $909.65 billion. The year-on-year growth rates from 2024 to 2028 are moderate, indicating a consistent increase in spending by approximately 1.14% annually over the forecasted period. Over the five-year span from 2023 to 2028, the Compound Annual Growth Rate (CAGR) is projected to be around 1.1%.
In looking towards the future, key trends to watch include Japan’s aging population, which is expected to drive further increases in social protection costs. Monitoring policy changes aimed at mitigating these expenditures while addressing societal needs will be crucial, particularly those related to pension reform and healthcare spending.
