In the previous article (refer Part 1), it was mentioned that SG wealth in terms of international reserves in USD is 280 Billions. That is close to ~400 Billions in SGD.

Did some more research and digging to verify the numbers by looking at the wealth of Singapore over the last 50 over years. Managed to find an news article with the chart below.

BUDGET SURPLUS / DEFICIT - 2016 TO 2020

 

 From 2016 to 2019, Budget surplus S$17.4B

2020 Feb reported -10.9B. This is before the latest stimulus in April drawing another 5.1B, and 4B from the reserves. 2020 estimated deficit should be S$-15B

BUDGET SURPLUS / DEFICIT - 1997 TO 2015

Source: straits times. Click link here.

From 1997 to 2015 (18 years), summing up above chart, there is a surplus of S$49B.

Source: straits times. Click link here.

From above chart and explanation since 2001, Govt locked away at least ½ of the dividends and income...