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 July 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.