Directorates

Economic Programmes

The Economic Programmes (EP) Directorate determines how fiscal and other financial resources are optimally deployed across economic programmes to support Singapore’s economic transformation, and formulates policies to develop Singapore’s corporate regulatory framework and accounting sector. 

Key Areas of Work

  • Shaping and funding programmes to address national economic priorities such as industry transformation, productivity, and research, innovation, and enterprise,
  • Working closely with economic agencies to identify challenges, and develop and resource strategies to support economic growth and transformation
  • Driving value-for-money and financing approaches Reviewing corporate regulatory framework
  • Developing Singapore’s accountancy sector


Social Programmes

The Social Programmes (SP) Directorate optimizes resource allocation to achieve whole-of- government (WOG) Strategic Outcomes in social areas, specifically, social security, equal opportunities for all, an endearing home, as well as rooted and engaged citizenry. We do so by shaping policies in education, housing, health, community development, environment, retirement adequacy, human capital development, and sports.

Key Areas of Work

  • Annual budgeting for social ministries and prioritization of projects across government
  • Work closely with ministries and associated agencies to ensure continued fiscal sustainability, effectiveness, and prudence of programmes
  • Identify, research, and analyze medium to long-term social challenges, develop strategies to address these challenges and coordinating inter-agency efforts where necessary


Fiscal Policy

The Fiscal Policy (FP) Directorate is responsible for overall fiscal policy and fiscal and strategic planning, comprising revenue, financing, expenditure planning, and major reviews over the medium and long term. This is to achieve fiscal sustainability and a fiscal tax and transfers system that is pro-growth, internationally competitive, and progressive.

Key Areas of Work

  • Fiscal models & projections
  • Fiscal policy reviews, reports & coordination
  • Analysis of fiscal impact and sustainability of policy changes
  • Expenditure policy & projections
  • Revenue & financing policy, and revenue projections


Economic & Fiscal Analysis

The Economic & Fiscal Analysis (EFA) Directorate is responsible for research and analysis on a range of fiscal, economic, and social policy issues key to MOF. This is done through the application of economic theory, econometric modelling, and data analytics methods, and in close collaboration with partner directorates within the ministry, as well as with other agencies. The directorate also develops analytical capabilities within MOF.

Key Areas of Work

  • Macroeconomic surveillance
  • Revenue forecasting
  • Econometric policy evaluation and impact analysis
  • Data science methods
  • Cost-benefit analysis
  • Analytical capability development


Tax Policy

The Tax Policy (TP) Directorate sets tax policies to meet Singapore's long term fiscal needs and promote economic and social objectives. We aim to ensure that the overall tax regime is competitive, sustainable, equitable, and progressive. The TP Directorate formulates and legislates policies of the following tax types which are administered by IRAS: Corporate Income Tax, Personal Income Tax, Goods and Services Tax, Property Tax, Stamp Duties and Betting Taxes. We also oversee Singapore's international tax policies such as tax treaties and the exchange of information.


Reserves and Investment

The Reserves and Investment (R&I) Directorate supports MOF’s mission to create a better Singapore through Finance. We oversee policies relating to the investment of reserves to ensure an appropriate balance between tapping investment returns from reserves to fund Government's expenditure and ensuring the continued growth of the reserves. We also formulate the Government's policies on the protection of reserves.

Key Areas of Work

  • Investment policy (e.g. risk tolerance and asset allocation) for managing our reserves
  • Governance and accountability mechanisms for reserves
  • Formula for spending out of investment returns from reserves


Corporate Communications

The Corporate Communications (CC) Directorate supports the Ministry of Finance (MOF)’s mission to create a better Singapore through sound fiscal policies. It does this by managing the ministry’s corporate image through media relations, marketing communications, and service quality. CCD also works with all other MOF directorates, departments and statutory boards to effectively communicate policies and new initiatives to domestic and international audiences, and aims to increase the mindshare of the MOF through the proactive engagement of key stakeholders.


International

The International Directorate (ID) seeks to advance Singapore’s interests by participating in and shaping the development of issues relating to international economics and finance at multilateral and regional platforms such as Multilateral Development Banks, ASEAN, ASEAN+3, and APEC.

Key Areas of Work

  • Managing MOF’s bilateral and multilateral engagements with foreign counterparts and key partners
  • Strengthening MOF’s foreign relations and enhance Singapore’s standing in international fora
  • Shaping and balancing the outcome of such international negotiations in alignment with MOF's policies and goals


Security & Resilience Programmes

The Security & Resilience Programmes (SRP) Directorate determines how our fiscal tools –budget, tax and other resources – are optimally allocated to ministries and agencies under our purview, so as to achieve the following strategic outcomes:

  • Keep the nation safe and secure
  • Advance Singapore’s ambition to be a Smart Nation and push for digital transformation in the public service
  • Build social resilience by promoting sports, arts and community involvement
  • Strengthen public communications
  • Ensure an efficient and effective government administration


Land & Infrastructure Planning Programmes

The Land & Infrastructure Planning Programmes (LIP) Directorate determines how our fiscal tools - tax, budget and other resources – are optimally deployed to our land and infrastructure agencies to achieve the strategic outcome of Singapore as a liveable and endearing home.

Key Areas of Work

  • Coordinate upstream planning of land and infrastructure development
  • Enable optimal land policies at Whole of Government level
  • Improve the public transportation network and vehicle tax regime
  • Evaluate funding needs for major public infrastructure projects, including the airport, seaport, and water infrastructure


Performance & Evaluation

The Performance & Evaluation (P&E) Directorate supports MOF’s objectives to enhance accountability for public expenditure. The focus of its work is to ensure that public funds are spent effectively and efficiently to achieve desired outcomes. It also oversees initiatives to strengthen the value-for-money culture within the Government and enhance programme evaluation capabilities.

Key Areas of Work

  • Programme Evaluation Framework
  • Value-for-Money Reviews
  • Public Sector Innovation and Transformation


Resource Management

The Resource Management (RM) Directorate supports MOF’s objectives to create a high-performance Government that uses its resources efficiently and effectively. The focus of its work is on ensuring value-for-money in Government expenditure, as well as sound procurement policies, good governance, and internal controls in the public service.

Key Areas of Work

  • Government Procurement Policies
  • Policies on Development Project Expenditure
  • Financial Controls
  • Revenue Contracting


Centre for Public Project Management

The Centre for Public Project Management (CP2M) supports MOF’s objectives of ensuring efficient and effective use of public resources, through achieving value-for-money in government expenditure on major development projects.

Key Areas of Work

  • Work with government agencies to scope their development proposals and provide advice on optimising value and project outcomes, taking into consideration life-cycle costs
  • Manage the Gateway process and evaluate the government-wide pipeline of major infrastructure projects
  • Share best practices and establish standards, cost and space norms of development projects across government


Corporate Development

The Corporate Development (CD) Directorate consists of:

  • Admin, Security and Preparedness – Deliver excellent service in Workspace Management, Safety and Security and Administration.
  • Human Resource Management and Development – Attract, develop, engage and retain talents.
  • Organisational Development and Learning - Build organisation capability and culture.
  • Specialist Development Office – Career and professional development of finance and procurement specialists for the Government.

Key Areas of Work

  • MOF as an employer of choice
  • Human capital development
  • Organisation sustainability and renewal
  • Workplace wellness, safety and security initiatives


Finance, Systems & Projects

The Finance, Systems & Projects (FSP) Directorate aims to ensure the efficient allocation and use of resources (e.g. financial resources, fixed asset management, procurement activities) in MOFHQ to bring about a high performance government. Finance also works closely with our departments and statutory boards to achieve MOF’s mission.

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Last Updated on August 07, 2017
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