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.
You can see the updated visualized data based on the latest Fortitude budget (released 26th May 2020) here.
The obvious takeaway is that the budget deficit is unprecedented.
In fact it is the largest draw on our reserves since our independence in 1965.
This is not a critique of the government. In fact, I think the expenditure is necessary and a good thing to position us moving forward.
The series is meant to give readers a sense of the long-term trends in the budgets, and I have updated charts every year (it is a passion project of mine).
I believe in data literacy. An informed citizenry makes better decisions and is good for Singapore.