投资健康：财政转向的途径（英）2025

Investment Rating - The report does not explicitly provide an investment rating for the health sector in low- and lower middle-income countries (LLMICs) but emphasizes the need for increased government health spending to achieve Universal Health Coverage (UHC) and Sustainable Development Goals (SDGs) [8]. Core Insights - The report outlines pathways for LLMICs to expand government health spending amidst fiscal constraints, declining external support, and rising competition for public resources [8]. - It highlights that government health expenditure (GHE) per capita in LLMICs doubled in real terms from US$24 in 2000 to US$46 in 2022, but growth has significantly slowed since 2009 [30][31]. - The report identifies institutional, technical, and operational challenges that hinder the mobilization of government financing for health [40][41]. Summary by Sections Part A: Heed the Signs - Government health spending per capita in LLMICs has slowed markedly, with annual increases dropping from nearly 6% (2000-2009) to just 2% (2009-2019) [64]. - In 2022, average government health spending was US$16 per capita in low-income countries (LICs) and US$60 in LLMICs, falling short of the US$70 and US$90 benchmarks needed for UHC [67]. - Nearly half of LLMICs are projected to face stagnation or declines in government health spending due to high debt obligations and competition for resources [68]. Part B: Mind the Returns - The report emphasizes the economic, social, and political returns of investing in health, which are often overlooked due to their complexity and preventive nature [33][35]. - It discusses how government decision-making is centralized, limiting the role of health ministries and leading to fragmented health sectors [34]. Part C: Raise the Game - The report suggests that countries can elevate health as a political priority through policy reforms and institutional changes [41][42]. - It outlines the importance of collaboration between ministries of health and finance to improve budget formulation and execution [41][44]. Part D: Shift the Course - The fiscal pivot pathways proposed in the report include political economy strategies and technical measures to enhance government health spending [40][48]. - The report stresses the need for sustained commitment to health investments despite the challenges posed by external pressures and internal constraints [48].