With Japan’s population continuing to gray and decline, the average annual nursing care cost per capita is estimated to increase 75% to ¥235,000 in 2050 compared to the level in 2019, according to government data.

The estimate was provided by the Cabinet Office on Monday during a key economic panel meeting to discuss some of the critical medium-to-long term issues the country will face.

Other data showed that the financial burden of sustaining a graying society is only expected to grow, as the average health care cost per capita is likely to swell 22% to ¥401,000 in 2050 from ¥328,000 in 2019.