In real terms, public spending on education grew at an annual rate of 10% between 2004 and 2013. Public spending on early childhood and pre-primary education had the greatest increase during this period (average annual growth rate of 12%), followed by secondary education (9.7%), primary education (8.5%) and tertiary education (8.5%) (INEEd, 2015). The vast majority of public resources are executed by public institutions (about 68% of total expenditure) while the remainder (about 8%) are executed by private institutions (CAIFs and tax waivers associated to private provision of education services).