Singapore's $800 Billion Massive Debt, Explained

Singapore has one of the world's highest government debts!

Narrated by Tom McKay
Video Edited by Iyanbriandi

Brought to you by the Behind Asian Team.

[BehindAsia]

What do you think about Singapore's massive debt? Let us know down below!

[genming]

In simple term, think of Singapore as someone who borrow to buy properties vs US as someone who borrow to pay for its increasing credit card bills.

[peanutbrain]

Let me get this straight : Singapore borrows money to invest in assets (anything that helps to make more money), whereas the US borrows money to pay liabilities (anything that takes money away from you). So Singapore is smart and responsible with the money they borrow vs the US which is totally irresponsible !

[linhwang]

Singapore operates like a bank which borrows money from the savers to obtain profits.

[chincheong]

Borrowing to earn more in the future is smart .
Borrowing to pay off more n more increasing debts n consumption is unsustainable.

[jennyle]

I think, Singapore regulates their own money domestically
from many sources, without needing to borrow from abroad. They’ve calculated very carefully to always have profits since the founding of the country 👍

[graceair]

Singapore can only plan long term if the Government remains more or less the same. If the Government keep changing like the USA, planning will be short term for quick wins to please voters.

[HodgeChris]

For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.

[lkl]

Title should change to Good Debts vs Bad Debts

[heavymetalrox]

Misleading title - Singapore issues debt and does not BORROW to finance buying more assets to make more money.
Debt-to-GDP ratio is very misleading, because if you look at the full balance sheet, Singapore has over $5 Trillion in assets and $600 Billion in reserves plus more.

Bro our country was built on learning from the world's mistakes and implementing the solutions on ourselves.

[NahbehChow]

singapore debt is investment debt ie. tie to assets. which generate revenue or sold for cash. usa debt its for consumption which future generations has to pay

[Tungku]

I think if I am not wrong, Singapore consider foreign deposit as external debt

[LanceKuan]

No one knows how Temasek and GIC invest Singapore's reserves. Hence, exactly how much reserves the country has.

[zero]

Hi @BehindAsia, how did you get all the figures and data?

[jeffs-uwhr]

Don't you worry about Singapore 😅😂
Just pay off the US$34trillion debt 🙄

[liveisgreatlivenotdie]

If Singapore issued non tradeable bonds to CPF, then what did they do with the fund they received from CPF which bought the Government non-tradeable bonds.

[tenglim]

Fun Facts: Currently, both the Temask, and GIC, have a combined value of close to 1 trillion USD, and maintain different investment approaches to achieve investment returns, on the various projects in different fields, for the Government of Singapore (and, in turn, Singaporeans too).

[vieworama]

Also because foreign investor's bank deposits in singapore are simply written in the balance sheet as "debt", the bank owes u money because u deposit with them, therefore technically you lend the bank money, so in P&L it's written as debt.

[Souchirouu]

What?! Investing in the long term benefit of your people is a good idea?! Naw, that can't be true! Short term profit for the few is the premium economic model!

[decarpntr]

Singapore has no other natural resources or facilities to allow the space to spend like other countries do. So one of the methods to manage and govern well is to spend differently from other countries. It comes down to the needs and profile of the countries and governments.