Design, reporting, and broader impact: COVID-19 budgeting in Singapore

Figures & data

Table 1. Revenue and expenditure (in SGD billion)^a.

	Budget 2020 (Unity budget)	Budget supplement 1 (Resilience budget)	Budget supplement 2 (Solidarity budget)	Budget supplement 3 (Fortitude budget)	Ministerial statement (05 oct 2020)^b
Operating revenue	76.0	70.8	70.4	68.8	63.7
Less:
Total expenditure	83.6	89.1	89.8	110.5	102.1
Primary surplus/(Deficit)	(7.6)	(18.3)	(19.4)	(41.7)	(38.3)
Less:
Special transfers	22.0	39.6	43.6	51.2	54.5
Excluding top-ups to endowment and trust funds	4.7	22.3	26.3	33.9	37.1
Basic surplus/(deficit)^c	(12.3)	(40.5)	(45.6)	(75.6)	(75.5)
Top-ups to endowment and trust funds	17.3	17.3	17.3	17.3	17.3
Add:
Net investment returns contribution^d	18.6	18.6	18.6	18.6	18.6
Overall budget surplus/(Deficit)	(10.9)	(39.2)	(44.3)	(74.3)	(74.2)

^a Ministry of Finance (2020).

^b As mentioned in Section 2.1.5, the interim budget estimates and position for the October 05, 2020 Ministerial Statement is unchanged from that reported on August 17, 2020. As such, only the October 05 budget estimates are reported here.

^c This is obtained as (Primary surplus/(Deficit) − Special transfers excluding top-ups to endowment and trust funds). This is defined to give an indication of the annual impact of the government’s revenue and expenditures on the economy. However, it has no international equivalent. For this and other definitions of terms in the budget, see: https://data.gov.sg/dataset/government-fiscal-position-annual

^d Net investment returns contribution is from the returns to the government’s investments among its assets of SGD 1.1 trillion (Ministry of Finance 2020). Up to half of the investment returns may be acquisitioned for budgetary purposes, but neither total returns nor the share that was utilized for the current budget are reported.

Table 2. Revised revenue and expenditure (in SGD billion)^a.

	Budget 2020 (Unity budget)	Budget supplement 1 (Resilience budget)	Budget supplement 2 (Solidarity budget)	Budget supplement 3 (Fortitude budget)	Ministerial statement (October 05, 2020)
Operating revenue	76.0	70.8	70.4	68.8	63.7
Add:
Net investment returns contribution	18.6	18.6	18.6	18.6	18.6
Sale of land^b	13.5	13.5	13.5	13.5	13.5
Less:
Total expenditure	83.6	89.1	89.8	110.5	102.1
Special transfers excluding top-ups to endowment and trust funds	4.7	22.3	26.3	33.9	37.1
Add:
Top-up to contingency funds^c	3.0	3.0	3.0	16.0	16.0
Primary surplus/(deficit)	22.8	(5.5)	(10.6)	(27.5)	(27.4)
Overall budget surplus/(deficit)^d	22.8	(5.5)	(10.6)	(27.5)	(27.4)

^a Author’s calculations.

^b This item has not been updated and/or adjusted in line with the supplementary budgets.

^c Similar to top-ups to endowment and trust funds, top-ups to the Contingency Funds should be excluded from expenditure.

^d That the primary and overall budget balances are the same arises from the lack of disaggregation in the budget’s reporting. Also see Kwan, Bali, and Asher (2016, 417).

Ministry of Finance. 2020. “Singapore Budget 2020.” Government of Singapore. Accessed: 23 January 2021. https://www.singaporebudget.gov.sg/budget_2020

 Google Scholar

Kwan, C. Y., A. S. Bali, and M. G. Asher. 2016. “Organization and Reporting of Public Financial Accounts: Insights and Policy Implications from the Singapore Budget.” Australian Journal of Public Administration 75 (4): 409–423. doi:10.1111/1467-8500.12228.

 Web of Science ®Google Scholar