💰 7.2% Of Iceland Budget For Education. 400GW Of Solar In China. Indonesia's Health Spend Triples.
Chart of the Day #193 looks at Education Expenditure, Solar energy, and Health Budgets
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The US Commerce Department announced preliminary countervailing duties on solar imports from Southeast Asia. Indonesia is conducting trials for three tuberculosis vaccines to eliminate the disease by 2030 through aggressive vaccine development.
Today's Topics
💰 Education Expenditure. 7.2% of Iceland’s budget for education
🌞 Solar Energy. China's installed solar capacity nears 400GW
⚕️ Health Budget. Indonesia’s health budget tripled (2016-2023)
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💰 7.2% of Iceland’s Budget for Education
Iceland's government spending on education ranged from 7% to 8.2% of GDP between 2000 and 2020. The highest investment occurred in 2005, peaking at 8.2% during an economic boom. However, following the 2008 financial crisis, spending declined, reaching 7% between 2016 and 2018 due to budget constraints. By 2020, expenditure rebounded to 7.7%, signaling a renewed focus on education amidst COVID-19 pandemic-related challenges.
🌞 China's Installed Solar Capacity Nears 400GW
China’s cumulative solar power capacity experienced extraordinary growth from 4GW in 2012 to nearly 400GW in 2022, driven by aggressive government policies, renewable energy targets, and global decarbonization efforts. The sharpest increase came after 2016, with capacity nearly doubling to 77GW from 40GW. By 2022, China topped global photovoltaic installations, driven by technological advancements, and the government’s pledge to reach 1,200 GW of renewables by 2030.
⚕️ Indonesia’s Health Budget Triples (2016-2023)
Indonesia's government health budget experienced rapid growth, rising from 65T IDR in 2016 to 255T IDR in 2022. This increase reflects heightened healthcare demands, particularly due to the COVID-19 pandemic, with a peak of 210T IDR in 2020. By 2023, the budget dropped to 180T IDR but remains higher than pre-pandemic levels.
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