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. source: Monetary Authority of Singapore
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 November of 2020.
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.