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 September of 2022.

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

Related Last Previous Unit Reference
Government Budget -13.90 -0.30 percent of GDP Dec 2020

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