What is the definition of the Governments budget surplus?
The Government's budget surplus/deficit is defined and presented as follows:
Operating Revenue (collections from taxes, fees and charges and others)
(Less) Total Expenditure
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Primary Surplus/(Deficit)
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(Less) Special Transfers excluding Top-Ups to Endowment and Trust Funds
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Basic Surplus/(Deficit)
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(Less) Top-Ups to Endowment and Trust Funds
(Add)Net Investment Returns Contribution (NIRC) [1]
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Overall Budget Surplus/(Deficit)
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Footnote:
[1] The Net Investment Returns Contribution (NIRC) comprises up to 50% of the Net Investment Returns on the net assets managed by the Government of Singapore Investment Corporation (GIC) and the Monetary Authority of Singapore (MAS), and up to 50% of the investment income from the remaining assets (which includes Temasek Holdings).
For more information on the rules governing how investment returns from Past Reserves can be taken into each years Budget for spending, please refer to http://www.mof.gov.sg/Policies/OurNationsReserves/SectionIIWhatisthePresident%E2%80%99sroleinsafeguardingthereserves of Our Nation's Reserves.
Related questions
What happens to the Government's budget surplus?
Is the Government recording large surpluses year after year?
What are government endowment funds and why does the Government create them?
Why is the presentation format of the Government Budget different from the government finance data reported in the Yearbook of Statistics?
