Magazine : 
5 Countries That Spend Most On Their Citizens
Greece:
The popular holiday destination, Greece has come up in the list of countries that spend the most on their own people. This is mainly attributed to the high unemployment rate prevailing in this country.
It is the global financial crisis that has dramatically hit Greece, where the unemployment rate is now at 27.3 percent, one of the highest in Europe and is expected to rise 28 percent in the coming years. The figure is twice as high among the youth.
Since the beginning of recession, not just unemployment but even suicides also have risen frantically in Greece in the last four years.
Over the years, the government has taken up various changes like privatization, structural reforms, and austerity measures. All these were introduced as measures for the IMF to provide Greece with a 110 billion euro bailout scheme.
Belgium:
A Western European nation, Belgium is one such nation where its government allots an expenditure rate of 53.3 percent of GDP mainly for its citizen. Out of which more than half of its spending (29.7 percent of GDP) is mainly attributed for social protection.
In this country, the government employees are paid between 30 percent and 40 percent monthly and the employees contribute a fraction of their gross salary towards social security.
In this way, they are entitled of allowances for sickness, unemployment, invalidity, work accidents, contractions of industrial disease as well as old age pensions and family allowances.
Also Read: India Among World's Poorest Countries
The popular holiday destination, Greece has come up in the list of countries that spend the most on their own people. This is mainly attributed to the high unemployment rate prevailing in this country.
It is the global financial crisis that has dramatically hit Greece, where the unemployment rate is now at 27.3 percent, one of the highest in Europe and is expected to rise 28 percent in the coming years. The figure is twice as high among the youth.Since the beginning of recession, not just unemployment but even suicides also have risen frantically in Greece in the last four years.
Over the years, the government has taken up various changes like privatization, structural reforms, and austerity measures. All these were introduced as measures for the IMF to provide Greece with a 110 billion euro bailout scheme.
Belgium:
A Western European nation, Belgium is one such nation where its government allots an expenditure rate of 53.3 percent of GDP mainly for its citizen. Out of which more than half of its spending (29.7 percent of GDP) is mainly attributed for social protection.
In this country, the government employees are paid between 30 percent and 40 percent monthly and the employees contribute a fraction of their gross salary towards social security.
In this way, they are entitled of allowances for sickness, unemployment, invalidity, work accidents, contractions of industrial disease as well as old age pensions and family allowances.
Also Read: India Among World's Poorest Countries
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