[h=1]THE “MISSING” $20+ BILLION BUDGET SURPLUS?[/h]
<!-- /.block --> <style>.node-article .field-name-link-line-above-tags{float: right;}.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;}</style> Post date:
2 Dec 2014 - 9:26pm
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$25.3b Budget cash surplus?
According to the Department of Statistics’ Monthly Digest of Statistics November 2014, which was published on 2 December – the (Government Budget) Cash Surplus was $25.3 and $27.4 billion for FY2012 and FY2011 respectively (Section 14.5 Government Finance page 80).
Budget cash surplus for FY2013?
Since it is now December 2014 – why is it that the (Budget) Cash Surplus/Deficit for FY2013 is still not published yet?
(“Note: Presentation format of the table follows that of the National Summary Data Page (NSDP) for Singapore, which disseminates the data prescribed by theInternational Monetary Fund’s Special Data Dissemination Standards (SDDS). Data in the table represent a broader definition of Government revenues and receipts than what are permissible for Government spending as presented in each year’s Budget Statement. This is because some revenues and receipts accrue to the Government’s past reserves, which cannot be drawn on without the approval of the President.
The data follow the latest IMF Government Financial Statistics Manual (GFSM), i.e., GFSM 2001. Details on the reporting forma
for GFSM 2001 can be found in IMF’s website http://www.imf.org/external/pubs/ft/gfs/manual/aboutgfs.htm.
1 Does not reflect the fiscal position of the current term of government, as it takes into account land sales and capital receipts (which
accrue primarily to past reserves) in addition to taxes and other revenues, as well as land-related expenditure.”)
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$16.9b Budget cash surplus in the last 6 months?
As the Cash Surplus for the 6 months from May to October 2014 was about $16.9 billion – could it be that the Surplus for FY2013 may once again be more than $20 billion ($16.9 billion x 2 = $33.8 billion) like in the previous years?
Why accumulate huge Budget cash surpluses?
Why do we keep apparently, continue to accumulate huge Budget Cash Surpluses?
Free education and healthcare?
To put this figure in perspective – I estimate that about an additional $1 billion spending may provide free education for all Singaporean students at all educational levels, and about an additional $10 billion spending may provide free medical treatment for all Singaporeans – which may still leave a Cash Surplus of over $10 billion.
Also, why is it that Singapore is not among the 100 countries ranked in the latest 2012 Open Budget Index (OPI)http://internationalbudget.org/wp-content/uploads/OBI2012-Report-English.pdf ? The OPI is basically a ranking of the transparency of Government spending.
Win battles lose war
TRS Contributor
<!-- /.block --> <style>.node-article .field-name-link-line-above-tags{float: right;}.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;}</style> Post date:
2 Dec 2014 - 9:26pm
<ins id="aswift_0_expand" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: inline-table; visibility: visible; position: relative; background-color: transparent; border-image: none;"><ins id="aswift_0_anchor" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: block; visibility: visible; position: relative; background-color: transparent; border-image: none;"><iframe name="aswift_0" width="336" height="280" id="aswift_0" frameBorder="0" marginWidth="0" marginHeight="0" scrolling="no" vspace="0" hspace="0" allowfullscreen="true" style="left: 0px; top: 0px; position: absolute;" allowTransparency="true"></iframe></ins></ins>
$25.3b Budget cash surplus?
According to the Department of Statistics’ Monthly Digest of Statistics November 2014, which was published on 2 December – the (Government Budget) Cash Surplus was $25.3 and $27.4 billion for FY2012 and FY2011 respectively (Section 14.5 Government Finance page 80).
Budget cash surplus for FY2013?
Since it is now December 2014 – why is it that the (Budget) Cash Surplus/Deficit for FY2013 is still not published yet?
(“Note: Presentation format of the table follows that of the National Summary Data Page (NSDP) for Singapore, which disseminates the data prescribed by theInternational Monetary Fund’s Special Data Dissemination Standards (SDDS). Data in the table represent a broader definition of Government revenues and receipts than what are permissible for Government spending as presented in each year’s Budget Statement. This is because some revenues and receipts accrue to the Government’s past reserves, which cannot be drawn on without the approval of the President.
The data follow the latest IMF Government Financial Statistics Manual (GFSM), i.e., GFSM 2001. Details on the reporting forma
for GFSM 2001 can be found in IMF’s website http://www.imf.org/external/pubs/ft/gfs/manual/aboutgfs.htm.
1 Does not reflect the fiscal position of the current term of government, as it takes into account land sales and capital receipts (which
accrue primarily to past reserves) in addition to taxes and other revenues, as well as land-related expenditure.”)
<ins id="aswift_1_expand" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: inline-table; visibility: visible; position: relative; background-color: transparent; border-image: none;"><ins id="aswift_1_anchor" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: block; visibility: visible; position: relative; background-color: transparent; border-image: none;"><iframe name="aswift_1" width="336" height="280" id="aswift_1" frameBorder="0" marginWidth="0" marginHeight="0" scrolling="no" vspace="0" hspace="0" allowfullscreen="true" style="left: 0px; top: 0px; position: absolute;" allowTransparency="true"></iframe></ins></ins>
$16.9b Budget cash surplus in the last 6 months?
As the Cash Surplus for the 6 months from May to October 2014 was about $16.9 billion – could it be that the Surplus for FY2013 may once again be more than $20 billion ($16.9 billion x 2 = $33.8 billion) like in the previous years?
Why accumulate huge Budget cash surpluses?
Why do we keep apparently, continue to accumulate huge Budget Cash Surpluses?
Free education and healthcare?
To put this figure in perspective – I estimate that about an additional $1 billion spending may provide free education for all Singaporean students at all educational levels, and about an additional $10 billion spending may provide free medical treatment for all Singaporeans – which may still leave a Cash Surplus of over $10 billion.
Also, why is it that Singapore is not among the 100 countries ranked in the latest 2012 Open Budget Index (OPI)http://internationalbudget.org/wp-content/uploads/OBI2012-Report-English.pdf ? The OPI is basically a ranking of the transparency of Government spending.
Win battles lose war
TRS Contributor
