, Singapore

Singapore health costs to decline this year but still higher than 2019: Fitch

Health expenditure declined from $17.b in 2022.

The health expenditure in Singapore is expected to decline in 2023 whilst the government continues to support its elderly population, Fitch Solutions’ report showed.

The overall health expenditure is expected to fall by almost 2% compared to 2022 to $16.9b in 2023 from $17.2b in 2022.

Fitch said the decline is attributed to the improving pandemic situation in Singapore and the shift to an endemic phase.

But the research firm said despite a decline in health spending, it is still high in “historical terms and is significantly above pre-pandemic spending levels.”

The higher expenditure was attributed to “Singapore’s ageing population and the importance of promoting preventative care measures to ensure a healthier population,” Fitch also said.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

DBS and OCBC expected to deliver steady Q1 net profits
Their net interest margins will ease as a result of their Hong Kong loans.
Singapore's maritime cluster navigates towards digital, green future
Adapting to emerging challenges, such as the adoption of alternative fuels, is deemed crucial for the country's maritime sector.
Shipping & Marine
SCG and A*STAR unveil joint labs for cellular immunotherapy enhancement
The partnership has a funding of nearly $30m supported under Singapore's Research, Innovation and Enterprise 2025 plan.