Public Social Spending in Colombia

In an event organized by the Externado Faculty of Economics, guest experts presented their research on Public Social Spending in our country, discussed its operation and the State and social implications.

Social spending aims to satisfy the basic needs of the economically vulnerable population, such as health, sanitation, education, housing, water, and sewer, among others. In theory, the main goal is to improve the quality of life of the population and increase social well-being.

The academic meeting focused on analyzing, from different perspectives, Social Spending in areas such as health and education. Health Economy is responsible for studying Health public expenditure factors.

Health Social Spending refers to the provision of benefits by the public and private institutions, defined by the constitutional and legal framework of each country, targeting communities, households, or individuals to provide support in adverse circumstances, resulting from their condition. According to figures presented by the experts, Health Expenditure represents 7.2 percent of the Gross Domestic Product (GDP).

On the other hand, the speakers referred to the way the Government has organized the distribution of subsidies, which seek to mitigate poverty and inequality.

The event was organized as part of the Economist Day (July 3, 2017) celebration, and the 50th anniversary of the Faculty of Economics.