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Ministry of Finance (MOF)
Featured Reports

Overview of Singapore Government Borrowing 2026

Topics

Fiscal Policies

29 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]

Readers may also wish to refer here for more information on the Reserves Management Government Securities (RMGS).

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