The PAP government owes Singaporeans an explanation as to how it ‘missed’ statutory boards’ contributions estimate by a mile last year.
In Today’s “S’pore posts record S$9.6 billion budget surplus, thanks to ‘one-off’ factors“, the article briefly explained how PAP managed to generate the ‘unexpected’ gargantuan surplus in FY2017:
1. ” …owing mainly to “exceptional statutory board contributions” and higher-than-expected collections from stamp duties.”
2. “Some S$4.9 billion in statutory board contributions were expected in FY2017, more than 16 times the initial estimate of S$300 million“.**
3. “This was driven mainly by an “exceptional contribution” from the Monetary Authority of Singapore thanks to higher investment returns from recovering global markets, said the MOF”.
Fact: Increased contributions from some stat boards were almost offset by decreased contributions of other stat boards.
More at
Our G needs to explain $7B ‘windfall’, economy in fact weak
In Today’s “S’pore posts record S$9.6 billion budget surplus, thanks to ‘one-off’ factors“, the article briefly explained how PAP managed to generate the ‘unexpected’ gargantuan surplus in FY2017:
1. ” …owing mainly to “exceptional statutory board contributions” and higher-than-expected collections from stamp duties.”
2. “Some S$4.9 billion in statutory board contributions were expected in FY2017, more than 16 times the initial estimate of S$300 million“.**
3. “This was driven mainly by an “exceptional contribution” from the Monetary Authority of Singapore thanks to higher investment returns from recovering global markets, said the MOF”.
Fact: Increased contributions from some stat boards were almost offset by decreased contributions of other stat boards.
More at
Our G needs to explain $7B ‘windfall’, economy in fact weak