At the World Psychiatric Congress in Prague, RANZCP President Dr Astha Tomar joined presidents from psychiatric and mental health organisations worldwide to co-sign ‘The Prague Agreement’ –urging global financial institutions to incentivise investment in mental healthcare.  

Mental health remains chronically underfunded globally. In Australia, the Productivity Commission estimates that mental ill health costs the Australian economy up to $70 billion annually in lost productivity and $150 billion in diminished quality of life - roughly 10% of GDP. 

New Zealand Treasury’s Living Standards Framework similarly identifies mental wellbeing as a key determinant of national productivity. Yet less than 1 percent of total GDP is currently directed toward specialised mental health services. 

Promoting good mental health is no longer simply a human rights imperative, it makes economic sense. The College is committed to advocating for improved funding and advancing global mental health outcomes.