Understand that the Government spent billions on COVID-19 Budgets. How do we have the money for it? What was our GDP like for the past few years to allow us to cough up these amounts?

Hi anon,

Our reserves are quite sizeable. Please see question 5 under: https://www.ifaq.gov.sg/mof/apps/fcd_faqmain.as...

The size of the 4 budgets was approximately US$100 billion. I'm guessing this amounts to around 10% of the reserve. The key here is to be sustainable, the government should use what is necessary, even tap into past surpluses if needed, but they should not put the reserve in a position where it will take too long to recover in tandem with economic growth. I don't know if there will be a fifth budget, but I also hope that they have done their maths to figure out how much can be drawn on.

We've been averaging more than $300billion USD for our GDP for a number of years now.

I beleive they have reserves.

In the US, the FED is printing money.

So anything is possible i guess.

Im no economist but I beleive money printing will lead to drop of currency value.