This is the one article that talks about how much of it’s GDP Singapore spends on healthcare. Granted that we have “better outcomes”, I am not sure if we should be spending only 1.6% while we spend 24% on Defence.
He said Singapore is currently spending about 1.6 per cent of the GDP on healthcare.
By 2016, it would go up to two per cent of GDP and by 2030 when the rapidly ageing population will be the biggest driver of rising expenditure going forward, healthcare spending may reach around 3.5 per cent of GDP, taking into account demographic changes and higher medical inflation.
Mr Tharman stressed that Singapore should focus on achieving international standards for healthcare outcomes rather than simply on increasing spending.