The 2024 Education Finance Watch highlights the need for more adequate, efficient, and equitable education spending.
The World Bank has published its latest Education Finance Watch report. It states:
“During the last decade, total education spending by governments, households and donors globally has increased steadily. But this rise has not led to major increases in allocations per child, especially in poorer countries with growing populations. Indeed, globally, total education spending per child has not increased.”
It mentions the impact that debt has on spending:
“In the past 10 years, in developing countries, interest payments on public debt have increased faster than government education spending. Some low and lower middle-income countries allocate nearly the same per capita resources to debt servicing as they do to education.”