WifOR Institute’s Post

Recently, I had the opportunity to visit Buenos Aires to share WifOR Institute's research on health investments. Admiring the stunning architecture of the city, I thought about Argentina's former status as one of the richest countries in the world a century ago. A lot has changed since, as the nation has faced chronic inflation, high sovereign debt, cyclical hardship, and economic mismanagement in the last decades. But not all hope is lost for Argentina. Promoting health as a sector that consistently drives well-being, job creation, and wealth can help pave the way out of the crisis. Our study on the socioeconomic burden of disease, commissioned by FIFARMA, presents the Argentinian case, among others in Latin America. Between 2018 and 2022, the country lost 181.9 billion dollars due to the reduced productivity caused by seven major diseases. For context, the sum would be enough to pay back Argentina's record debt with the International Monetary Fund not just once, but around four times.   These findings are eye-opening for governments and ministers of finance across the globe. Understanding the widespread impact health investments can have on a country's economic situation can assist leaders in making better decisions. Clearly detecting the illnesses that affect societies the most and that cause the highest monetary losses allows for more effective budget allocations. In other words, resources can then be destined to where they reap more benefits.   For this purpose, we need roundtables for all disease areas where stakeholders can sit and discuss practical solutions. By fostering dialogue grounded in trustworthy data, we can plan for the long-term and secure greater prosperity. You can read my article on health investments and how they relate to economic stability (published by financial outlet El Cronista and translated to Spanish) here: https://lnkd.in/eQ4-YEC2 #BurdenOfDisease #EconomicGrowth #HealthIsAnInvestment