Photo of Lee Hsien Loong from Facebook

Singapore’s ruling party government has gone into a record deficit of S$10.95 billion after government spendings went out of control. The near S$11 billion deficit was topped up from the National Reserves, which the PAP government have free access thanks to their proxy puppet President Halimah Yacob.

Total expenditures jumped S$5.45 billion (6.9%) from 2018’s S$78.16 to S$83.61 billion, despite having the government posting higher revenue at S$76.01 billion (1.7% increase over 2018).

The Singapore government also paid off a S$11.2 billion debt, it borrowed for undisclosed reasons.

12 government ministries and the Prime Minister’s Office posted increased expenditures:

Health Ministry: 16.2% increase (S$11.5 billion to S$13.4 billion)
Education Ministry: 3.5% increase (S$12.8 billion to S$13.2 billion)
National Development: 22.2% increase (S$3.6 billion to S$4.4 billion)
Social and Family Development: 8.5% increase (S$2.9 billion to S$3.2 billion)
Environment and Water Resources: 12.1% increase (S$2.6 billion to S$2.9 billion)
Culture, Community and Youth: 20.8% increase (S$1.8 to S$2.2 billion)
Manpower: 35.9% increase (S$1 billion to S$1.4 billion)
Communications and Information: 5.5% decrease (S$0.54 billion to $0.51 billion)
Defence: 3.2% increase (S$14.6 billion to S$15 billion)
Home Affairs: 4.2% increase (S$6.7 billion to S$6.98 billion)
Foreign Affairs: 0.6% decrease (S$0.45 billion to S$0.44 billion)
Transport: 7.1% increase (S$10.1 billion to S$10.9 billion)
Trade Industry: 12% decrease (S$4.3 billion to S$3.8 billion)
Manpower: 7.5% increase (S$0.96 billion to S$1.03 billion)
Infocomm Media Development Authority and Cyber Security Agency: -5.5% (S$0.54 billion to S$0.51 billion)
Finance: 19.5% increase (S$9.1 billion to S$1 billion)
Prime Minister’s Office: 8.7% (S$9.6 billion to S$1 billion)
Organs of State: 10.3% decrease (S$0.75 billion to S$0.68 billion)
Law: 29.3% decrease (S$0.55 billion to S$0.38 billion)

Dubious transactions known as Special Transfers to “Endowment and Trust Funds” plunge Singapore finances further into deficits of S$12.26 billion.

The Singapore government collected S$191 million in the new Carbon tax and S$11.2 billion was collected from the 7% GST.