Posted by Michael Wonder on 06 Oct 2017
Australia's health care spending rises above 10% of GDP for first time
5 October 2017 - Figures show spending slowing, but not to the same extent as GDP growth, as health economist says governments should act now to avoid a funding crisis.
Health expenditure exceeded 10% of gross domestic product for the first time in 2015-16, data released on Friday shows.
The growth in health spending continues to slow, but not to the same extent as GDP growth. Last year, $170.4bn was spent on health, $6bn (3.6%) more in real terms than in 2014–15, the figures from the Australian Institute of Health and Welfare show. It was the fourth consecutive year growth was below the 10-year average of 4.7%.
