Singapore recorded a record high budget deficit of 13.9% of the GDP in the fiscal year ended March 31st, 2021, due to the coronavirus pandemic and a deep GDP contraction. In the 2021-2022 fiscal year, the budget gap is expected to narrow to 2.2% of the GDP. The government announced a new S$11 billion package to help households and businesses rebound from the pandemic. source: Monetary Authority of Singapore

Government Budget in Singapore averaged 6.67 percent of GDP from 1990 until 2020, reaching an all time high of 21.23 percent of GDP in 1994 and a record low of -13.90 percent of GDP in 2020. 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 April of 2021.

Government Budget in Singapore is expected to reach -2.50 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Government Budget is projected to trend around -2.50 percent of GDP in 2022 and -1.60 percent of GDP in 2023, according to our econometric models.

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Singapore Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
-13.90 -0.30 21.23 -13.90 1990 - 2020 percent of GDP Yearly

Singapore Government Last Previous Highest Lowest Unit
Government Debt to GDP 131.00 126.30 131.00 67.40 percent [+]
Government Budget -13.90 -0.30 21.23 -13.90 percent of GDP [+]
Government Budget Value 2436.50 3108.70 17603.90 -10922.00 SGD Million [+]
Government Spending 14068.80 14156.20 14291.70 833.20 SGD Million [+]
Government Revenues 9690.10 10944.60 24579.90 1664.60 SGD Million [+]
Fiscal Expenditure 7253.60 7835.90 16654.70 2544.20 SGD Million [+]
Credit Rating 100.00 [+]
Military Expenditure 11262.00 10835.00 11262.00 871.00 USD Million [+]
Government Debt 704721.40 690148.70 704721.40 47443.50 SGD Million [+]


Singapore Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.