2020 Singapore Budget (May 2020)

Due to the Covid pandemic crisis of 2020, our Singapore government has released and amended its budget 4 times so far - a supplementary Resilience budget in Feb 2020 (on top of the usual budget), the Solidarity Budget in April 2020, and the most recent current Fortitude Budget in May 2020.

Here's a link to the MOF 2020 budget website for all the annoucements.

For the charts below, the fiscal position (Expenditure vs Revenue) data is based on the latest Fortitude Budget released on 26th May 2020.

There will be no in-depth analysis as we only have a top-level update on the fiscal position.

2020: The biggest deficit ever

It is obvious from the data that Singapore is having an unprecedented big deficit.

These latest numbers are estimates based on the Fortitude budget released 26th May 2020.

In fact it is the largest draw on our reserves since our independence in 1965.

From here onwards, you can mostly ignore the rest of the charts below as they were based on Feb 2020 budget estimates, which have been superceeded thrice now.

I have only left them in from a completeness standpoint so readers can look at longer trends.

So please ignore 2020 budget breakdown estimates (older years are fine) from here.The 2020 budget estimate breakdown will be very different, given that only current top-line numbers were released in the Fortitude May 2020 budget.

Expenditure (based on Feb 2020)

This chart data is based on old Feb 2020 budget estimates and will not be accurate for 2020 numbers. Older years are fine. To be updated when the gov releases updated data.

  • 8 ministries in Social Development sector
  • 3 ministries Security and External Relations sector
  • 4 ministries in Economic Development sector
  • 4 ministries in Government Administration sector

Expenditure by sector and type / expenditure by type (Feb 2020 estimate)

This chart has been removed because the breakdown is not meaningful as the budget 2020 numbers have changed.

Revenue (Feb 2020 estimate)

This chart data is based on old Feb 2020 budget estimates and will not be accurate for 2020 numbers. Older years are fine. To be updated when the gov releases updated data.

  • Other taxes: Includes Foreign Worker Levy, Development Charge, Annual Tonnage Tax and Water Conservation Tax
  • Other fees and charges: Includes revenue from Licenses, Permits, Service Fees, Sales of Goods, Rentals of Premises, Fines and Forfeitures, and Reimbursements

Data Sources

Latest 2020 Fortitude Budget data (May 2020) taken from Singapore Budget 2020 website (by MOF).

Here's the work done in previous years, if you're interested to compare:

The whole point of this series is to give readers a sense of the long-term trends in the budgets since we have almost two decades worth of collected data.

I believe in data literacy. An informed citizenry makes better decisions and is good for Singapore.

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