26 Februari 2014

Singapore Announces SGD12.56 Billion Defence Budget

26 Februari 2014


2014 Defence Budget increase 3.2% than spending in 2013 (photo : Shephard)

Singapore has announced a 2014 defence budget of SGD12.56 billion (USD9.93 billion), a 3.2% increase over spending in 2013, the government said on 21 February.

The allocation amounts to 22% of total annual government expenditure and about 3.3% of GDP. Both figures are in line with the country's long-term approach to defence spending, which is geared towards maintaining the Singapore Armed Forces' (SAF's) relative high degree of military capability.

While expenditure as a percentage of GDP is higher than the global average of around 2%, it remains significantly below the Singapore government's sanctioned cap of 6%. The reduction from 3.4% of GDP in 2013 to 3.3% in 2014 follows a general trend of decline with regards to this particular metric since 2009.

(Jane's)

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