Operating Revenue, Expenditures and Overall Surplus or Deficit of Current Government

Debated in Parliament on 12 Sep 2022.

Summary written by AI (learn more)

Chua Kheng Wee Louis asked for the current fiscal performance of the government for FY2022, including operating revenue, expenditures, and surplus/deficit compared to budgeted figures and the estimated $3 billion deficit.
Lawrence Wong explained that it is premature to compare year-to-date figures with budgeted estimates or compute a primary surplus early in the financial year due to uneven revenue and spending patterns.
He noted that projecting the full-year fiscal position is not yet meaningful due to uncertainties in the macroeconomic environment and the COVID-19 situation.
The government typically provides a detailed fiscal update and revised estimates at the Budget statement.
Data on monthly revenue and quarterly expenditure is published by the Department of Statistics.

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Chua Kheng Wee Louis

Mr Chua Kheng Wee Louis asked the Deputy Prime Minister and Minister for Finance (a) what is the current Government’s FY2022 to-date operating revenue, operating expenditure, development expenditure and the primary surplus/deficit respectively; (b) how do these figures compare with the budgeted figures; and (c) how much is the overall FY2022 fiscal position expected to differ from the estimated deficit of $3 billion as announced in Budget 2022.

Lawrence Wong

The monthly figures for government operating revenue, and quarterly figures for operating and development expenditure are published by the Department of Statistics on its website. However, the pace of revenue collections and government spending is uneven across the months of the financial year. Hence, it is generally not meaningful to compare the latest revenue and expenditure figures against the budgeted figures so early in the financial year, or to compute the primary surplus at this point.

It is also premature to project the eventual fiscal outturn for FY2022 after only one quarter. This is especially so as there is significant uncertainty in our macroeconomic environment and COVID-19 trajectory. We typically provide an update on revenue and expenditure, as well as the revised position for the current financial year at Budget.

Summary written by AI (learn more)

Chua Kheng Wee Louis asked for the current fiscal performance of the government for FY2022, including operating revenue, expenditures, and surplus/deficit compared to budgeted figures and the estimated $3 billion deficit.
Lawrence Wong explained that it is premature to compare year-to-date figures with budgeted estimates or compute a primary surplus early in the financial year due to uneven revenue and spending patterns.
He noted that projecting the full-year fiscal position is not yet meaningful due to uncertainties in the macroeconomic environment and the COVID-19 situation.
The government typically provides a detailed fiscal update and revised estimates at the Budget statement.
Data on monthly revenue and quarterly expenditure is published by the Department of Statistics.

Questions identified by AI (learn more)

Operating Revenue, Expenditures and Overall Surplus or Deficit of Current Government | PAPERCUTS

Operating Revenue, Expenditures and Overall Surplus or Deficit of Current Government

Debated in Parliament on 12 Sep 2022.

Summary written by AI (learn more)

Chua Kheng Wee Louis asked for the current fiscal performance of the government for FY2022, including operating revenue, expenditures, and surplus/deficit compared to budgeted figures and the estimated $3 billion deficit.
Lawrence Wong explained that it is premature to compare year-to-date figures with budgeted estimates or compute a primary surplus early in the financial year due to uneven revenue and spending patterns.
He noted that projecting the full-year fiscal position is not yet meaningful due to uncertainties in the macroeconomic environment and the COVID-19 situation.
The government typically provides a detailed fiscal update and revised estimates at the Budget statement.
Data on monthly revenue and quarterly expenditure is published by the Department of Statistics.

Questions identified by AI (learn more)

Full Transcript

Chua Kheng Wee Louis

Lawrence Wong

Summary written by AI (learn more)

Chua Kheng Wee Louis asked for the current fiscal performance of the government for FY2022, including operating revenue, expenditures, and surplus/deficit compared to budgeted figures and the estimated $3 billion deficit.
Lawrence Wong explained that it is premature to compare year-to-date figures with budgeted estimates or compute a primary surplus early in the financial year due to uneven revenue and spending patterns.
He noted that projecting the full-year fiscal position is not yet meaningful due to uncertainties in the macroeconomic environment and the COVID-19 situation.
The government typically provides a detailed fiscal update and revised estimates at the Budget statement.
Data on monthly revenue and quarterly expenditure is published by the Department of Statistics.

Questions identified by AI (learn more)

Operating Revenue, Expenditures and Overall Surplus or Deficit of Current Government

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Questions Identified

Full Transcript

Chua Kheng Wee Louis

Lawrence Wong

Summary

Questions Identified

Operating Revenue, Expenditures and Overall Surplus or Deficit of Current Government

Summary

Questions Identified

Full Transcript

Chua Kheng Wee Louis

Lawrence Wong

Summary

Questions Identified