Offsetting savings in areas as education and unemployment benefits are likely to be limited. With respect to Greece, data on public spending projections are not available as such projections have not yet been submitted. However, according to projections prepared in 2002, pension expenditures will rise from 12.4% of GDP in 2005 to 22.6% of GDP in 2050.
5 The net increase in total old age-related expenditure (excluding spending on long-term care, for which no official figures are available) is projected to be 11.5 percentage points of GDP, reaching 32.7% of GDP in 2050.