Global Meeting on Population and the Generational Economy, August 2020
Presentation: Michael Abrigo, Financing universal health care in an ageing Philippines
The Philippines has been experiencing unprecedented economic growth in recent years. This has fueled greater consumption among households and greater support for the expansion of government entitlements, particularly on health and education. Behind these developments, however, is the fact that the country is slowly ageing. The Philippines' demographic window of opportunity is closing soon. Using recent National Transfer Account estimates for the Philippines, the study shows how population ageing in the country may impact the magnitude and direction of the resource requirement needed to finance one of the government's newest mandates, i.e., the Universal Health Care Act. As expected, population ageing will require more resources, but faster ageing does not necessarily require heavier burden among taxpayers if shared more broadly. While it may be imperative to expand human capital investments on children to fully harness the second-wave of demographic dividends, it may also be prudent to "ageing-proof" government financing to ensure the fiscal sustainability and generational equity of government services.
File: NTA2020 Abrigo_a
Paper: NTA2020 paper Abrigo_a
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