From 2013 to 2023, external health expenditure in Ghana exhibited significant volatility, with notable peaks and troughs in year-on-year variations. In 2013, external health expenditures saw a dramatic increase of 96.44%. However, following years displayed fluctuations, with significant declines in 2016 (-48.67%) and 2020 (-18.56%). Recent years have demonstrated more stability, with modest growth rates of 6.14% in 2022 and 3.86% in 2023. As of 2023, the external health expenditure stands at 13.44 units.
Over the last five years, the compound annual growth rate (CAGR) has been relatively stable at around 4.06%, indicating a return to modest positive growth. Looking forward, from 2024 onwards, the external health expenditure is forecasted to maintain at 13.44 units annually, with a forecasted 5-year CAGR and growth rate both stabilized at 0%.
Future Trends to Watch:
- Potential impacts of international funding policies on health expenditure.
- Changes in domestic health policy and their influence on external funding requirements.
- Global economic conditions and their implications for foreign aid and health expenditure in Ghana.
- Healthcare innovations and their cost implications.
