The Straits Times
Angela Tan
12 Feb 2026
Singapore’s national coffers have been bolstered by a revenue outperformance in fiscal year (FY) 2025, led by better-than-expected economic growth and higher corporate income tax and asset-related takings, Prime Minister Lawrence Wong said in his Budget speech on Feb 12.
The Government expects to end FY2025 – from April 1, 2025, to March 31, 2026 – with an overall fiscal surplus of $15.1 billion, or 1.9 per cent of gross domestic product (GDP), he said. This is more than double the surplus of $6.81 billion estimated.
Total FY2025 revenue – which includes operating revenue plus the Net Investment Returns Contribution (NIRC) – was revised to $158.39 billion, or 19.8 per cent of GDP.
This is $8.48 billion more than what was estimated, the Ministry of Finance (MOF) said...
Budget 2026: Key insights for Singapore's economy | The Straits Times | 12 Feb 2026
