After the polls: Singapore's first post-election Budgets

One apparent trend in the last two decades is that economic development forms a larger share of expenditure in every post-election Budget, relative to the preceding term’s median. In Budget 2026, economic development accounts for 21.7 per cent of total ministry expenditure – up from just 12.7 per cent in Budget 2007. NTU lecturer Felix Tan notes that economic development spending – which goes beyond trade and industry to areas such as transport – may “increasingly take centre stage, as the future seems likely to be quite a roller-coaster ride”.

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