Singapore Government

Main article: Singapore

2024: Lawrence Wong elected as Singapore's new leader

May 15, 2024 Lawrence Wong is sworn in as Singapore's new leader.

2018: Finance Ministry's plan to distribute surplus state money to citizens

At the end of September 2018, the Singapore authorities announced plans to reward the population for their contribution to the development of the economy. More than half a billion American dollars will be allocated for bonuses, according to the website of the country's Ministry of Finance.

The amount of payment will depend on income. Those who earn less than 28,000 Singapore dollars a year will receive the most - the authorities will pay them 300 Singapore dollars ($219). If the income is from 28,001 to 100,000 Singapore dollars, then the premium will be 200 Singapore dollars ($146), and if a citizen receives more than 100,000 Singapore dollars per year, then his bonus is the least - 100 Singapore dollars ($73).

Singapore to pay 2.8 million residents more than half a billion dollars to contribute to the economy

In total, 2.8 million residents can count on receiving part of the national wealth from the state. The volume of the payment program is 700 million Singapore dollars ($511 million). This money is included in the budget for 2018.

This [allocation of bonuses - approx. TAdviser] reflects the government's long-standing commitment to share the country's development results with Singaporeans, the Singapore Treasury website says.

Singapore ended the 2017 fiscal year with a surplus of S $9.6 billion. The country's economic growth indicators were 3.6% higher than expected, and the median income indicator of residents grew by 5.3%.

Sharing income with citizens is not only accepted in Singapore. For example, every resident of Alaska receives $2,072 from the region's oil revenues once a year, and in Finland since January 2017, about 2 thousand unemployed citizens selected randomly receive an unconditional basic income of 560 euros per month. The initiators of this project hope that such payments in Finland should stimulate people to search for temporary earnings, since they will not be afraid to lose guaranteed unemployment benefits.^[1]

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