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Accountant-General’s Department

Overview of Singapore Government Borrowings

Category

Singapore Government Borrowings

26 June 2026

Some observers have pointed out that the Singapore Government has a high level of debt vis-à-vis Singapore’s GDP. Some wonder why this is so, given that the Government runs a balanced budget. This note explains why the Government borrows, notwithstanding its healthy financial position.

Overview of Singapore Government Borrowings [PDF, 190.73 KB]

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