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Data from World Bank. Forecasts by Sigmanomics Forecast Engine.
SingaporeSingapore Government Expense (% of GDP) held to 17.3 Percent in December 2023
World BankYearlyReleased December 2023
Singapore Government Expense (% of GDP) held to 17.3 Percent in December 2023.
Latest Release
17.303483
Actual
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Consensus
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Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
| USD/JPY | ▲ Direct | +0.30 | FOREX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Government Expense (% of GDP) (Singapore) was reported at 17.30 Percent in December 2023. This is classified as a medium-impact indicator released on a yearly basis.
WHY IT MATTERS
The trailing three releases averaged 16.14 Percent, down from the prior three at 18.20 Percent.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include CPI YoY (May 25).
Auto-generated from current model state · Refreshes on each release · Last update December 2023.
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Government Expense (% of GDP) - SG
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About Government Expense (% of GDP) — Singapore
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released annually.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection.
Σ
EXPECTED ZONE
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Economic Calendar - SG Events
| Monday, May 25, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 05:00 | SG | Inflation Rate YoY | 1.8 | 2 | 1.90 | Low | |
| 05:00 | SG | Inflation Rate MoM | 0.5 | 0.4 | 0.25 | Low | |
| 05:00 | SG | Core Inflation Rate YoY | 1.7 | 1.7 | 1.40 | Low | |
| 05:00 | SG | CPI YoY | 1.7 | 1.7 | 1.70 | Medium | |
| Tuesday, May 26, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 00:00 | SG | GDP Growth Rate QoQ | 1.3 | 0.1 | 0.10 | Low | |
| 00:00 | SG | GDP Growth Rate YoY | 5.7 | 5.1 | 5.10 | Low | |
| 00:00 | SG | Gross Domestic Product QoQ | 2.1 | 0.1 | 0.20 | Low | |
| 00:00 | SG | Gross Domestic Product YoY | 6.9 | 5.1 | 5.10 | Low | |
| 00:00 | SG | Current Account | 40.24 | 36 | 36.00 | Low | |
| 00:20 | SG | Current Account | 40.24 | 36 | 36.00 | Low | |
| 05:00 | SG | Industrial Production YoY | 10.1 | 12 | 16.55 | Low | |
| 05:00 | SG | Industrial Production MoM | 4.7 | -0.5 | -2.35 | Low | |
| Friday, May 29, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 02:00 | SG | Bank Lending | 902.3 | 901 | 901.00 | Low | |
| 03:30 | SG | Producer Price Index YoY | 21.6 | 24 | 24.00 | Low | |
| 03:30 | SG | Import Prices YoY | 11.1 | 13.3 | 13.30 | Low | |
| 03:30 | SG | Export Prices YoY | 8.4 | 10 | 10.00 | Low | |