Social spending after the crisis

12 Dec
English: World GDP growth rate and GDP growth ...

English: World GDP growth rate and GDP growth rate of total OECD countries. Data source: World Bank Group and OECD. (Photo credit: Wikipedia)

 

Social spending after the crisis

This report by the Organization for Economic Cooperation and Development (OECD) ranks the countries with regard to their net social expenditure in proportion of their Gross Domestic Product. When taking into account the taxes applied to social benefits and the social expenditures borne by the private sector, France and the USA rank in the first places (30 % of their GDP) while Korea and Mexico are the two countries that spend the less in social expenditure be it in cash or in kind (around 10 % of their GDP). Overall the average is 20 to 25 % of the GDP. The social expenditures includes cash benefits like pensions or unemployment benefits (12.6% of GDP in average) as well as the financing of social and health services (9.0% of GDP in average).

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