Accuracy of Expenditure Forecasting: The Singapore Experience

Abstract

This article examines the accuracy of the forecasting of both operating and development expenditure in Singapore during three distinct periods in the country’s budgetary history. The data presented relate to the situation as a whole as well as to variations among selected ministries. A brief comparative reference is made to United States and Malaysian experience and conclusions are reached concerning the extent to which acceptable standards have been achieved.

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Notes on contributors

Doh Joon Chien

Doh Joon Chien is Associate Professor in the School of Accountancy and Business, Nanyang Technological University, Singapore.