Innovative Financing to Protect Public Health During a Pandemic

By Anisa Ismail and Tan Yen LianBANGKOK / PENANG, Sep 20 2022 (IPS) Economic recovery since the COVID-19 pandemic has been uneven amidst a cautious loosening of restrictions. But even at the height of the pandemic, it was business as usual for the tobacco industry. Tobacco companies remain profitable, making US$ 912.3 billion in 2022 and capitalizing on the situation by promoting and selling their lethal products while convincing governments that their industry should not be penalised during the pandemic, claiming tobacco is a good investment. This is an industry that perpetuates an annual loss of US$ 1.4 trillion in global health costs and lost productivity, amounting to 1.8% of the world’s GDP. 14% of all deaths globally (over 8 million deaths annually) are due to non-communicable diseases (NCDs) directly caused by tobacco consumption and exposure to secondhand smoke. Yet, total healthcare spending is not prioritized enough and remains scarce in many low- and middle-income countries, leaving precious little funds for health promotion programs to counter the devious marketing tactics of the tobacco industry. In low-income countries, health expenditures as a share of government spending fell to 6.8% in 2016 from 7.9% in 2000. Low- and middle-income countries must increase their health expenditures to achieve the SDGs. Credit: SEATCA In addition to its destructive impact on our bodies, tobacco is also horrible for the environment. With about 1.3 billion smokers consuming ...
Source: IPS Inter Press Service - Health - Category: International Medicine & Public Health Authors: Tags: Development & Aid Economy & Trade Featured Global Headlines Health Inequity Poverty & SDGs TerraViva United Nations IPS UN Bureau Source Type: news