The big picture: Behind Singapore’s last 12 Budgets

CNA TODAY examines the trends and patterns across the past decade of Budget reports. The combined annual spending from the Skills Development Fund and Lifelong Learning Endowment Fund jumped from S$179 million to S$890 million from FY2016 to FY2024. Annual spending from these funds continued to grow to an estimated S$1.25 billion this year. This pattern is consistent with a policy emphasis on human capital as a central driver of productivity growth, said Asst Prof Chua Yeow Hwee of NTU. "Higher spending from skills and lifelong learning funds reflects where implementation is taking place. Workforce transformation is delivered through continuous training and reskilling programmes, which naturally require more regular disbursements," he said.

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