All in all, large relative education expenditures in these countries indicates prospects for continued economic growth in the future, as GDP growth usually follows closely behind increases in the education level of the general populace. A good chunk of this growth has been allocated to economic development of the Maori and other aboriginal peoples of New Zealand, while also making increased efforts to educate all of the populace about the cultural and significant importance of these people, who have inhabited the land covered by the island nation since well before its absorption into the British Colonial Empire. Every country has its own unique spending needs regarding education, which can vary in conjunction with priorities of a country’s populace, diplomatic involvement of the country on the international scene, and the age structure of the population, among countless other factors. In Namibia, government expenditure on education relative to GDP was 8.5% in 2010.

According to a UN World Bank report, in 2008 the public spending on education expressed as a percentage of GDP in Lesotho was 12.98%. New Zealand healthcare spending for 2016 was $3,745, a 4.55% increase from 2015. Government spending on education is a huge investment in human potential that enhances the future of the country. All rights reserved | Version 1.0 |, Public spending on education (% of government expenditure) by country.

Monthly estimates by region can fluctuate; annual estimates have a higher degree of certainty.

These countries include Lesotho, Cuba, Kiribati, the Marshall Islands, and Palau, among others. This positive trajectory has made the ‘Kiwi Island’ as one of the few well-developed economies nearing the top of this list. The current Revenue Strategy can be found in the Fiscal Strategy section of the 2020 Wellbeing Budget. It is evident that, with time, most nations will continue to increase their relative expenditures on education as this important component of society receives more appreciation worldwide. In order to get a better look at how much importance certain countries place on their education budgets, we look at such expenditures in relative terms, as a percentage of their respective Gross Domestic Products (GDPs). spending on education in relation to GDP per capita, these figures must be interpreted in the context of student demography and enrolment rates.

Namibia registered the lowest such value over the last 11 years (6.04% of GDP) in 2006. - The World Bank This positive trajectory has made the ‘Kiwi Island’ as one of the few well-developed economies nearing the top of this list.

Does not include Air New Zealand fares and other spending captured in the Tourism Satellite Account. Source of the graphic : Estimated regional spend by domestic and international markets, electronic transactions based, released monthly. This new funding includes: $265.6 million of new operating funding for schools to replace school donations.

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