Public debt: Singapore (by CIA)
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Country Comparison :: Public debt
This entry records the cumulative total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html
Rank Country (% of GDP) Date of Information
1 Zimbabwe 304.30 2009 est
2 Japan 192.10 2009 est
3 Saint Kitts and Nevis 185.00 2009 est
4 Lebanon 156.00 2009 est
5 Jamaica 131.70 2009 est
6 Singapore 117.60 2009 est
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what does that mean???spore $$$$ will devalue overnight like japanese ww2 yen??
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Any idea . . .. . ... has this got to do . . .. . with CPF being held . . . .. . "captive" ?
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basically says government spend more than it collect from tax revenue to finance domestics consumption. The key question is how does the govt finance the deficit? Does the income received from CPF investment part of GDP return on investment or that is seperate?
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to add.....
it not only reflect the small domestics market in singapore but also INCOME could not catch up that is why the deficit spending.
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problems in SG is that most singaporean are not interested....also nobody is here to explain while the govt open the numbers to public but reframe from explaining to general public what it means. and the policies taken that affect the day to day lives of singaporean.
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luck i employed only contract workers, no neeed to pay CPF
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i think someone bring out the topic before why do singaporeans need hundreds of thousands of civil servants?
one of the main issue is govt should start about reducing the nos of it employ across all ministeries and try to find synergy across all statutory boards as part of the reform. we seldom heard anout the PAP mentioning reform but often high tech here and there but still employ maybe more workers dispite all the monies dump into the technolgy infrastructure.
they tell companies about productivities but the most unproductivities is it own minsteries!!
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Originally posted by reyes:
i think someone bring out the topic before why do singaporeans need hundreds of thousands of civil servants?
one of the main issue is govt should start about reducing the nos of it employ across all ministeries and try to find synergy across all statutory boards as part of the reform. we seldom heard anout the PAP mentioning reform but often high tech here and there but still employ maybe more workers dispite all the monies dump into the technolgy infrastructure.
they tell companies about productivities but the most unproductivities is it own minsteries!!
like i mention how is the deficit going to be finance.....thru hike of fees?well the size of public sector's budget relative to the size of its population exclude defence, police force, fire fighters, are huge. Considering Singapore post, power and telco are private.
The govt keep having creative ideas of rent seeking policies such as ERP, COE, etc.... instead of allowing private sector to generate services they took over and generate govt revenue and yet still unable to keep within its budget.
Not to mention that there are no welfare program in Singapore.
They continue to preach high salaries for civil servant to attract talent.
They continue to seek easy way out to problems and create and spend more on problems they create. "10 million dollars immigrant intergration program"....the future tax on all singaporean.
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Get ready to pay more people.. Reuters report that inflation in Sg. will hit 4% by 4th quarter. See below. "SINGAPORE (Reuters) - Singapore could face more inflationary pressure due to higher global commodity prices and transport costs with annual inflation hitting as high as 4 percent in the fourth quarter, the central bank said on Wednesday."
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Originally posted by CheckmateA1:
he lost 8 billion mah so need to increase cpf contribution to give him the funds for another "failed investment" that he is going to invest next.
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how to sustain this kind of budget?
no wonder COE price increase, ERP price increase la. fxxx
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Originally posted by reyes:
how to sustain this kind of budget?
no wonder COE price increase, ERP price increase la. fxxx
COE and ERP price increases is to help the poor, tax from the rich ya -
Originally posted by Avfyrais satkäring:
Country Comparison :: Public debt
This entry records the cumulative total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html
Rank Country (% of GDP) Date of Information
1 Zimbabwe 304.30 2009 est
2 Japan 192.10 2009 est
3 Saint Kitts and Nevis 185.00 2009 est
4 Lebanon 156.00 2009 est
5 Jamaica 131.70 2009 est
6 Singapore 117.60 2009 est
I understand Singapore public debt is mainly due to government issuing bonds to CPF board for OA/SA/Medisave contributions.
The bond financials can be found on CPF annual report.
If Govt doesn't issue bonds to CPF, then CPF board has to obtain financing from somewhere to pay the 2.5-4% interest.
As every working adult will have to contribute to CPF, that figure can only go up.
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Japan is in serious problems now.
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Originally posted by ~PEPPER~:
Japan is in serious problems now.
Oh, bad news for guy who are hardcore lovers of Jap AV models. -
Originally posted by angel7030:
Oh, bad news for guy who are hardcore lovers of Jap AV models.
i love angel7030...... -
Originally posted by iloveangel:
i love angel7030......
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Japanese pension system gt problems. Ageing population gt problem. declining birthrates.
Sad
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seriously too many ppl to feed in public sector. you see MINDEF keep on create new rank to stagnate wages really.
anyway budget if fixed so spend lor. In any case sometime ago TCH acknowledged e civil service gotta be more productivity n innnovative.
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Oh Dear My Learmed frens,
kindly use your brains and do some Google search before u talk .
CIA HAS NOT USED spy in Istana to get the data. CIA also rely on SG PAP
official data!
FACTS--
1. SG has no external debts,ie debts in foreign currency.
2. SG do not borrow $$ for spending.
Unlike other countries, from London to Washington to Afracia,
SG dunt borrow $$ to spend. Pl read carefully, Not BORROW for spending,
as Uncle Sam do.
As the Singapore Government does not need to finance its expenditures through the issuance of government bonds, SGS issuance is aimed primarily at developing Singapore's capital markets.
http://www.sgs.gov.sg/macro_overview/sgs_issuance.html
One of the big debtors of SG govt is CPF!
why?
“Monies in CPF accounts are shielded from the risks and volatility in capital markets. They are invested only in risk-free Special Singapore Government Securities yielding up to 5% and guaranteed by the Singapore Government. As of December last year, CPF members’ balances stood at S$151.3 billion, an increase of S$14.7 billion from the S$136.6 billion in December 2007,” Guan says.
http://www.theasset.com/article/17503.html
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again, i am not asking u love PAP or LKY or LHL.Before u hate them,
pl do some home work. Dunt make yourself a fool.
U guy English is much better than me. U should read better than me to get
the truths. vvvv
Ya GE is coming .This is the time to come back to SG and bad mouth PAP.
Again, the learned voters know and need to know the whole truths.
Be smart. Read more before u talk.Thanks.
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so lovely and funny...what a lion! -
Just curious, but what is Greece's ranking? heard that they are really really short of money...
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Oz was ranked by
Merrill Lynch the country with highest risks in finance!
http://bourse.blogs.challenges.fr/media/00/00/1740607489.pdf
Global Economics--
Everything you’ve ever wanted
to know about the world*Economics | Global
04 November 2008
ML Global Economics Team +40 20 7996 2587 etcMLPF&S (UK)
Table 1: Country risk ranking
Top-10 (highest risk) ..........Bottom-10 (lowest risk)
Australia............................. Nigeria
Switzerland ........................Mexico
Korea ...............................Philippines
Romania ..............................Colombia
Hungary..............................Egypt
Sweden ..............................Oman
Bulgaria .............................Indonesia
Euro area .........................Peru
UK ....................................China
US .....................................RussiaOMG--Greece is not there! So? PIIGS? STUPID countries?
##################
a word of cautions--pl note what are their yard sticks.
The last one u can trust is rating agency and financial house, with due respects!