Let’s take a look at where public money has been going up to the end of 2019
Green technology and to help deal with the consequences of climate change (SDG 13).7
A 2015 OECD report on climate finance, indicated that a number of high-income developed countries have pledged to raise aid to developing countries to $100 billion a year by 2020 to fund these issues. This amounts to 8.3 per cent of high-income developed countries’ military spending in 2015
Eliminating extreme poverty and hunger
the UN Food and Agriculture Organization suggests that eliminating extreme poverty and hunger sustainably by 2030 (SDGs 1 and 2) would require an estimated additional $265 billion per year on average (2013 prices).8 This would be made up of additional annual social payments of $67 billion from public funds and $198 billion in public–private investment to improve agriculture and rural infrastructure in poor communities. Of this $198 billion investment, $89–147 billion would need to come from public funding, putting total annual public spending requirements at $156–214 billion.When converted to 2015 prices, this amounts to 9.5–13 per cent of global military spending in 2015.
Universal primary and early secondary education of adequate quality by 2030 (SDG 4)
The 2015 Education for All Global Monitoring Report found that providing universal primary and early secondary education of adequate quality by 2030 (SDG 4) would require an additional $239 billion a year in spending (2012 prices).9 However, the report envisages that much of this additional spending will come from countries’ domestic resources. Based on the projection that education spending as a percentage of GDP will continue to increase in 2015–30, the report calculates an annual average financing gap—which would need to be covered by donors—of $22 billion. However, if low and lower-middle income countries only maintain their current share of education spending in GDP, then this gap more than doubles to $52.5 billion per year. Converted to 2015 prices this represents 3.2 per cent of world military spending in 2015.
A 2015 report by the Sustainable Development Solutions Network
found that achieving the SDG targets in agriculture and food security; health; education; clean water and sanitation; access to modern energy; telecommunications and transport infrastructure; ecosystems; and emergency response and humanitarian work (SDGs 2, 3, 4, 6, 7, 9, 11, 13, 14 and 15), including in each area additional sums to allow for climate change mitigation and adaptation, would require further spending from public sources of $760–885 billion a year (2013 prices) between 2015 and 2030.10 Converted to 2015 prices this amounts to 46–54 per cent of world military spending in 2015.
Government finances pre COVID-19
This map provides an insight into the gold reserves of countries. Note that this should be considered in relation to the GDP to debt ratios in the next box.
Debt to GDP Ratios in EU
A constant theme during the discussions concerning emergency support to EU Member States. Check out the chart here
Debt to GDP Ratios Globally
Another interesting map Note the situation of Japan, the country that is seen as an example of efficiency and technological leadership
Then there is the issue of poverty
The Borgen Project – 12 Facts About Poverty in Europe
A couple of headlines from the fact sheet
Poverty in Europe is not limited to those who are unemployed. In 2015, 7.7 percent of the EU population was at risk of poverty despite working full-time, with men more at risk than women. Romania has Europe’s highest risk of in-work poverty with a rate of 18.9 percent. Spain and Greece follow with 13.1 percent and 14.1 percent, respectively. Additionally, the in-work poverty risk has increased from 8.3 percent in 2010 to 9.6 percent in 2016.
Women have a higher risk of poverty in Europe. The number of women suffering from poverty or social exclusion in the EU was 1.9 percent higher than men in 2015. Additionally, young people between the ages of 18 and 24 are more at risk of poverty or social inclusion with a risk of 30.6 percent.
In 2015, almost 50 percent of all single parents in Europe were at risk of poverty or social exclusion, which is twice as much as the risk for any other household.
The Global Poverty Situation
Global Progress on SDG1
- Despite having a job, 8 percent of the world’s workers and their families still lived in extreme poverty in 2018. The situation remains particularly alarming in sub-Saharan Africa, where the share of working poor stood at 38 percent in 2018.
- Social protection systems help prevent and reduce poverty and provide a safety net for the vulnerable. However, social protection is not a reality for a large majority of the world’s population. In 2016, 55 percent – as many as 4 billion people – were not covered by any social protection cash benefits, with large variations across regions: from 87 percent without coverage in sub-Saharan Africa to 14 percent in Europe and Northern America.
Other sources of measurement