Singapore proposed $17.98 billion for defence spending in 2023 or increase 9,9% than $16.36 billion in 2022 (photo : RSAF)
Budget 2023: Highlights of spending plans by 7 ministries for the year ahead
SINGAPORE - Budget 2023 contains various measures to help tide Singaporeans over immediate cost-of-living pressures, as well as to grow the economy, equip workers with skills, strengthen Singapore’s social compact and build a more resilient nation.
Several developments delayed by the Covid-19 pandemic are also on the way, according to detailed spending plans announced by the various ministries for the 2023 financial year (FY).
As in past years, the ministries with the largest budgets are Defence, Health and Education.
A sum of $1.38 billion from the Health Ministry’s budget will be allocated to the continued development of projects such as the Woodlands Health Campus and the Emergency Medicine Building at Singapore General Hospital.
For the Defence Ministry, the construction of NS Square at Marina Bay will commence.
The Ministry of Sustainability and the Environment’s spending plans include the development of a new crematorium in Mandai.
In FY2023, the total expenditure across ministries is expected to hit $104.2 billion, a slight increase from 2022’s $102.41 billion.
Here are several highlights of the spending plans by several ministries:
1. Ministry of Defence
Projected total expenditure for FY2023: $17.98 billion
Almost all the money allocated, or $17.04 billion, will go to the Singapore Armed Forces – including payments for military equipment, maintenance of equipment and camps, as well as the salaries of full-time, operationally ready and regular national servicemen.
For FY2023, the ministry’s development expenditure of $871.31 million will be spent on construction projects such as those previously affected by Covid-19 and the development of NS Square, which will replace the Marina Bay floating platform.
2. Ministry of Health
Projected total expenditure for FY2023: $16.88 billion
3. Ministry of Education
Projected total expenditure for FY2023: $14.6 billion
4. Ministry of National Development
Projected total expenditure for FY2023: $8.74 billion
5. Ministry of Home Affairs
Projected total expenditure for FY2023: $8.29 billion
6. Ministry of Social and Family Development
Projected total expenditure for FY2023: $4.16 billion
7. Ministry of Sustainability and the Environment
Projected total expenditure for FY2023: $3.45 billion
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