Singapore's government announced an additional stimulus plan worth S$5.1 billion on April 6th to combat the coronavirus pandemic, just over a week after a huge support package was unveiled as the country braces for its worst recession. The measures include wage support, waiver of levies and one-off payments. Finance Minister Heng Swee Keat told parliament that the additional stimulus will increase the total spending on coronavirus relief to S$59.9 billion or 12 percent of GDP. The city-state will go into total lockdown for one month on April 7th to contain the spread of Covid-19, as the number of cases surpassed the 1,300 mark.
Government Budget in Singapore averaged 7.36 percent of GDP from 1990 until 2019, reaching an all time high of 21.23 percent of GDP in 1994 and a record low of -1.20 percent of GDP in 2015. This page provides - Singapore Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. Singapore Government Budget - values, historical data and charts - was last updated on July of 2020. source: Monetary Authority of Singapore
Government Budget in Singapore is expected to reach -12.00 percent of GDP by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Government Budget is projected to trend around -8.70 percent of GDP in 2021 and -5.60 percent of GDP in 2022, according to our econometric models.