The ramp up in healthcare spending is timely and almost a necessity given our rapidly ageing population and the resultant need fore more healthcare subsidies. The Investment in building more step-down care facilities to cater for the elderly in the community is a welcome move by the Government.
While the spending on healthcare is expected to increase significantly over the next decade to about 3% of GDP, it is still considerably low when compared to other developed countries.
However, Singapore’s healthcare system is regarded as highly efficient and has achieved or surpassed the health outcomes of many other developed countries despite the reasonably low levels of GDP spending.
Karen Lee, Head of Healthcare