{"release_id":5,"data":{"id":12722,"release_id":5,"source_id":"sgkb.economy-finance.fiscal-policy-and-government-budget","kind":"article","fingerprint":"6bd50d83c13a1683c0fb70775386d4726933a9ebda73840f6201d02019c0ab2a","title_en":"Fiscal Policy and Government Budget","title_zh":"\u8d22\u653f\u653f\u7b56\u4e0e\u653f\u5e9c\u9884\u7b97","domain":"economy-finance","status":"verified","date":"2026-10-14","payload":{"data":{"path":"economy-finance\/fiscal-policy-and-government-budget.md","tags":["policy","public-finance","concept","statistics"],"title":"Fiscal Policy and Government Budget","domain":"economy-finance","facets":["institution","policy","statistics"],"status":"verified","topics":["sgtopic.economy","sgtopic.economy.fiscal-policy","sgtopic.economy.taxation"],"aliases":["Singapore government budget","fiscal sustainability","NIRC in Budget"],"related":[],"sources":[{"url":"https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/","title":"MOF \u2014 Fiscal policies overview","accessed":"2026-10-14"},{"url":"https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/","title":"MOF \u2014 Net Investment Returns Contribution","accessed":"2026-10-14"},{"url":"https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/","title":"MOF \u2014 What are the reserves used for?","accessed":"2026-10-14"},{"url":"https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/","title":"MOF \u2014 How are Past Reserves protected?","accessed":"2026-10-14"}],"summary":"Singapore's fiscal policy aims for long-term sustainability, growth and equity through balanced budgets, progressive taxes and transfers, and NIRC-funded spending; the annual Budget sets revenue, expenditure and the Overall Fiscal Position.","entities":["sg.agency.mof"],"language":"en","volatility":"slow","document_id":"sgkb.economy-finance.fiscal-policy-and-government-budget","jurisdiction":"SG","document_type":"article","last_verified":"2026-10-14","temporal_scope":"current","document_sha256":"dd5ffd9f635a8908222304bd986fdf0a788cd2ae5a964143a8f0d4afcb09a212","geographic_scope":["national"],"classification_source":"domain-default","classification_confidence":"medium"},"date":"2026-10-14","kind":"article","wiki":{"path":"economy-finance\/fiscal-policy-and-government-budget.md","domain":"economy-finance","locales":{"en":{"title":"Fiscal Policy and Government Budget","summary":"Singapore's fiscal policy aims for long-term sustainability, growth and equity through balanced budgets, progressive taxes and transfers, and NIRC-funded spending; the annual Budget sets revenue, expenditure and the Overall Fiscal Position.","markdown":"# Fiscal Policy and Government Budget\n\n**Fiscal policy** in Singapore is how the Government raises revenue (mainly taxes and fees, supplemented by investment returns) and allocates spending to support macroeconomic stability, long-term growth and social equity ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). The Ministry of Finance describes the approach as maintaining **balanced budgets over the long term**, investing for future needs, and keeping the tax-and-transfer system **progressive** while preserving a comparatively light overall fiscal burden ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). Fiscal policy complements **exchange-rate-centred monetary policy** ([mas and monetary policy](\/en\/knowledge\/article\/sgkb.economy-finance.mas-and-monetary-policy)) and labour-market institutions such as tripartite wage guidelines ([labour market and wages](\/en\/knowledge\/article\/sgkb.economy-finance.labour-market-and-wages)); it is not interchangeable with Temasek dividends or MAS foreign-reserve management, which are explained in [gic and temasek](\/en\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek).\n\n## Objectives, spending priorities and sustainability\n\nMOF states that fiscal sustainability, growth and equity are the three headline objectives ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). Public spending focuses on public goods and infrastructure \u2014 security, education, skills, healthcare and aged care, transport and city renewal, climate transition and competitiveness \u2014 with **social spending accounting for about half of total expenditure** as of MOF's February 2026 overview ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). MOF also notes that **about 20% of the budget** is devoted to development and investment, including innovation, digitalisation and connectivity ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)).\n\nSingapore's **government expenditure as a share of GDP** is described by MOF as among the lowest across advanced economies, while outcomes in areas such as health and education remain comparatively strong on international benchmarks cited on the same page ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). That framing is policy narrative, not a substitute for quoting a specific year's **Overall Fiscal Position (OFP)** from published Budget documents when a reader needs surplus or deficit figures.\n\n## Revenue, taxes and the Net Investment Returns Contribution\n\nTaxes remain the core recurring revenue source; statutory rates and filing rules are summarised in [taxation system](\/en\/knowledge\/article\/sgkb.economy-finance.taxation-system) and volatile anchors such as GST appear in [annual rates](\/en\/knowledge\/dataset\/sgkb.data.annual-rates). A distinctive feature is the **Net Investment Returns Contribution (NIRC)**, which supplements tax revenue by bringing expected long-term returns on past reserves into the annual Budget ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)).\n\nNIRC comprises (1) up to **50%** of **Net Investment Returns (NIR)** on net assets invested by **GIC, MAS and Temasek**, minus Government liabilities including Singapore Government Securities and Special Singapore Government Securities; and (2) up to **50%** of **Net Investment Income (NII)** from remaining past-reserve assets ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)). The **NII framework** (2001) protects at least half of actual income; the **NIR framework** (2008) allows spending up to half of the **expected long-term real rate of return (ELTRROR)**, including capital gains, to smooth volatility and preserve purchasing power ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)).\n\nMOF states that NIRC funds **about 20% of annual Government spending**; the **estimated NIRC for FY2026 is S$28.48 billion** ([MOF reserves uses page, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)). NIRC is **budget revenue**, not a direct withdrawal of disclosed reserve principal, and must not be confused with an individual's CPF balance or Temasek's published net portfolio value ([gic and temasek](\/en\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)).\n\n## How NIRC is set and checked each year\n\nBefore each financial year, boards of GIC, MAS and Temasek propose ELTRRORs based on professional assessment; MOF reviews the methodologies and seeks the **President's concurrence**, after consultation with the **Council of Presidential Advisers** ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/); [presidency](\/en\/knowledge\/article\/sgkb.government-politics.presidency)). If Government and President disagree on an ELTRROR, the **20-year historical average real rate of return** is used for that year's NIR ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/); [MOF Past Reserves protection, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)). After the financial year closes, the **Minister for Finance certifies** to the President the NIR actually taken into the Budget within constitutional caps ([MOF Past Reserves protection, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)). MOF also states that NIRC figures are submitted to the President's Office and audited by the **Auditor-General's Office** ([MOF reserves uses page, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)).\n\nThe annual **NIRC dollar amount is published in the Budget** ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)). Readers asking \"how much did Singapore spend from reserves this year?\" need the published NIRC line and the relevant **financial year (FY)** label, not a single undated percentage.\n\n## Equity, transfers and the annual Budget cycle\n\nMOF describes a **progressive tax-and-transfer system**: better-off households contribute more, while transfers such as **Workfare Income Supplement**, **Silver Support**, and generation packages for **Pioneer** and **Merdeka** cohorts redistribute toward lower-income and vulnerable groups ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). Broader mobility programmes \u2014 affordable preschool, **ComLink+**, housing and healthcare subsidies \u2014 sit in the same fiscal frame but are implemented through line ministries; this article does not restate every scheme rate.\n\nThe **annual Budget** is the Government's principal fiscal statement: it presents estimated revenue and expenditure, sectoral plans, and measures requiring parliamentary approval. Ministries then defend their estimates in **Committee of Supply** debates; supply legislation authorises spending for the financial year. Detailed OFP tables and year-specific totals belong in the published Budget for that FY, not in evergreen prose. Crisis-era **Past Reserves** drawdowns require presidential approval under the constitutional protection framework ([MOF Past Reserves protection, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/); [presidency](\/en\/knowledge\/article\/sgkb.government-politics.presidency)).\n\n## Common retrieval mistakes\n\nErrors include treating **NIRC** as Temasek's entire dividend, adding MAS and Temasek published asset figures into \"total reserves,\" quoting **FY2026 NIRC (S$28.48 billion)** without the FY label, or assuming Singapore runs large routine fiscal deficits funded by bond markets like many advanced economies. MOF emphasises **prudent reserve accumulation**, NIRC as a steady revenue stream, and the ability to deploy Past Reserves in crises without heavy borrowing ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/); [MOF reserves uses page, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)). For macro structure and sectoral output, use [economy overview](\/en\/knowledge\/article\/sgkb.economy-finance.economy-overview); for tax mechanics, [taxation system](\/en\/knowledge\/article\/sgkb.economy-finance.taxation-system); for institutional reserve management, [gic and temasek](\/en\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)."},"zh":{"title":"\u8d22\u653f\u653f\u7b56\u4e0e\u653f\u5e9c\u9884\u7b97","summary":"\u65b0\u52a0\u5761\u7684\u8d22\u653f\u653f\u7b56\u901a\u8fc7\u5e73\u8861\u9884\u7b97\u3001\u7d2f\u8fdb\u7a0e\u6536\u548c\u8f6c\u79fb\u652f\u4ed8\uff0c\u4ee5\u53ca\u7531\u51c0\u6295\u8d44\u56de\u62a5\u8d21\u732e\uff08NIRC\uff09\u8d44\u52a9\u7684\u652f\u51fa\uff0c\u81f4\u529b\u4e8e\u957f\u671f\u53ef\u6301\u7eed\u53d1\u5c55\u3001\u589e\u957f\u548c\u516c\u5e73\uff1b\u5e74\u5ea6\u9884\u7b97\u5217\u660e\u6536\u5165\u3001\u652f\u51fa\u548c\u603b\u4f53\u8d22\u653f\u72b6\u51b5\uff08OFP\uff09\u3002","markdown":"# \u8d22\u653f\u653f\u7b56\u4e0e\u653f\u5e9c\u9884\u7b97\n\n\u65b0\u52a0\u5761\u7684**\u8d22\u653f\u653f\u7b56**\u662f\u653f\u5e9c\u7b79\u96c6\u6536\u5165\uff08\u4e3b\u8981\u6765\u81ea\u7a0e\u6536\u548c\u6536\u8d39\uff0c\u6295\u8d44\u56de\u62a5\u4ea6\u4e3a\u8865\u5145\uff09\u5e76\u5206\u914d\u652f\u51fa\u7684\u65b9\u5f0f\uff0c\u65e8\u5728\u652f\u6301\u5b8f\u89c2\u7ecf\u6d4e\u7a33\u5b9a\u3001\u957f\u671f\u589e\u957f\u548c\u793e\u4f1a\u516c\u5e73\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026\u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u8d22\u653f\u90e8\uff08MOF\uff09\u5c06\u5176\u505a\u6cd5\u63cf\u8ff0\u4e3a\u957f\u671f\u7ef4\u6301**\u5e73\u8861\u9884\u7b97**\u3001\u4e3a\u672a\u6765\u9700\u8981\u6295\u8d44\uff0c\u5e76\u4fdd\u6301\u7a0e\u6536\u4e0e\u8f6c\u79fb\u652f\u4ed8\u5236\u5ea6\u7684**\u7d2f\u8fdb\u6027**\uff0c\u540c\u65f6\u7ef4\u6301\u76f8\u5bf9\u8f83\u8f7b\u7684\u6574\u4f53\u8d22\u653f\u8d1f\u62c5\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026\u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u8d22\u653f\u653f\u7b56\u4e0e**\u4ee5\u6c47\u7387\u4e3a\u6838\u5fc3\u7684\u8d27\u5e01\u653f\u7b56**\u4e92\u4e3a\u8865\u5145\uff08[MAS \u4e0e\u8d27\u5e01\u653f\u7b56](\/zh\/knowledge\/article\/sgkb.economy-finance.mas-and-monetary-policy)\uff09\uff0c\u4e5f\u4e0e\u4e09\u65b9\u5de5\u8d44\u6307\u5f15\u7b49\u52b3\u52a8\u529b\u5e02\u573a\u5236\u5ea6\u4e92\u4e3a\u8865\u5145\uff08[\u52b3\u52a8\u529b\u5e02\u573a\u4e0e\u5de5\u8d44](\/zh\/knowledge\/article\/sgkb.economy-finance.labour-market-and-wages)\uff09\uff1b\u5b83\u4e0d\u80fd\u4e0e\u6de1\u9a6c\u9521\u80a1\u606f\u6216\u65b0\u52a0\u5761\u91d1\u878d\u7ba1\u7406\u5c40\uff08MAS\uff09\u5916\u6c47\u50a8\u5907\u7ba1\u7406\u6df7\u4e3a\u4e00\u8c08\uff0c\u76f8\u5173\u5185\u5bb9\u89c1[GIC \u4e0e\u6de1\u9a6c\u9521](\/zh\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)\u3002\n\n## \u76ee\u6807\u3001\u652f\u51fa\u91cd\u70b9\u4e0e\u53ef\u6301\u7eed\u6027\n\n\u8d22\u653f\u90e8\uff08MOF\uff09\u6307\u51fa\uff0c\u8d22\u653f\u53ef\u6301\u7eed\u6027\u3001\u589e\u957f\u548c\u516c\u5e73\u662f\u4e09\u9879\u9996\u8981\u76ee\u6807\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u516c\u5171\u652f\u51fa\u91cd\u70b9\u6295\u5411\u516c\u5171\u670d\u52a1\u548c\u57fa\u7840\u8bbe\u65bd\u2014\u2014\u5b89\u5168\u3001\u6559\u80b2\u3001\u6280\u80fd\u3001\u533b\u7597\u4fdd\u5065\u548c\u8001\u5e74\u62a4\u7406\u3001\u4ea4\u901a\u4e0e\u57ce\u5e02\u66f4\u65b0\u3001\u6c14\u5019\u8f6c\u578b\u548c\u7ade\u4e89\u529b\u2014\u2014\u622a\u81f3\u8d22\u653f\u90e8 2026 \u5e74\u4e8c\u6708\u7684\u6982\u89c8\uff0c**\u793e\u4f1a\u652f\u51fa\u7ea6\u5360\u603b\u652f\u51fa\u7684\u4e00\u534a**\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u8d22\u653f\u90e8\u8fd8\u6307\u51fa\uff0c**\u9884\u7b97\u7ea6\u6709 20%**\u7528\u4e8e\u53d1\u5c55\u548c\u6295\u8d44\uff0c\u5305\u62ec\u521b\u65b0\u3001\u6570\u5b57\u5316\u548c\u4e92\u8054\u4e92\u901a\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\n\n\u8d22\u653f\u90e8\u79f0\uff0c\u65b0\u52a0\u5761\u7684**\u653f\u5e9c\u652f\u51fa\u5360\u56fd\u5185\u751f\u4ea7\u603b\u503c\uff08GDP\uff09\u7684\u6bd4\u4f8b**\u5728\u53d1\u8fbe\u7ecf\u6d4e\u4f53\u4e2d\u5c5e\u4e8e\u6700\u4f4e\u6c34\u5e73\u4e4b\u4e00\uff0c\u800c\u540c\u4e00\u9875\u9762\u5f15\u7528\u7684\u56fd\u9645\u57fa\u51c6\u663e\u793a\uff0c\u65b0\u52a0\u5761\u5728\u536b\u751f\u548c\u6559\u80b2\u7b49\u9886\u57df\u7684\u6210\u679c\u4ecd\u76f8\u5bf9\u8f83\u597d\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u8fd9\u79cd\u8868\u8ff0\u5c5e\u4e8e\u653f\u7b56\u53d9\u8ff0\uff0c\u4e0d\u80fd\u66ff\u4ee3\u5f15\u7528\u5df2\u53d1\u5e03\u9884\u7b97\u6587\u4ef6\u4e2d\u7684\u7279\u5b9a\u5e74\u5ea6**\u603b\u4f53\u8d22\u653f\u72b6\u51b5\uff08OFP\uff09**\uff0c\u5c24\u5176\u662f\u8bfb\u8005\u9700\u8981\u76c8\u4f59\u6216\u8d64\u5b57\u6570\u636e\u65f6\u3002\n\n## \u6536\u5165\u3001\u7a0e\u6536\u4e0e\u51c0\u6295\u8d44\u56de\u62a5\u8d21\u732e\n\n\u7a0e\u6536\u4ecd\u662f\u6838\u5fc3\u7ecf\u5e38\u6027\u6536\u5165\u6765\u6e90\uff1b\u6cd5\u5b9a\u7a0e\u7387\u548c\u7533\u62a5\u89c4\u5219\u89c1[\u7a0e\u5236](\/zh\/knowledge\/article\/sgkb.economy-finance.taxation-system)\uff0c\u800c\u6d88\u8d39\u7a0e\uff08GST\uff09\u7b49\u6ce2\u52a8\u6027\u6570\u636e\u89c1[\u5e74\u5ea6\u7a0e\u7387](\/zh\/knowledge\/dataset\/sgkb.data.annual-rates)\u3002\u4e00\u9879\u7279\u8272\u673a\u5236\u662f**\u51c0\u6295\u8d44\u56de\u62a5\u8d21\u732e\uff08NIRC\uff09**\uff0c\u5b83\u5c06\u8fc7\u53bb\u50a8\u5907\u7684\u9884\u671f\u957f\u671f\u56de\u62a5\u7eb3\u5165\u5e74\u5ea6\u9884\u7b97\uff0c\u4ee5\u8865\u5145\u7a0e\u6536\u6536\u5165\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002\n\nNIRC \u5305\u62ec\uff1a\uff081\uff09\u7531**\u65b0\u52a0\u5761\u653f\u5e9c\u6295\u8d44\u516c\u53f8\uff08GIC\uff09**\u3001**MAS** \u548c**\u6de1\u9a6c\u9521**\u6295\u8d44\u7684\u51c0\u8d44\u4ea7\u6240\u4ea7\u751f\u7684**\u51c0\u6295\u8d44\u56de\u62a5\uff08NIR\uff09**\u7684\u6700\u9ad8 **50%**\uff0c\u6263\u9664\u653f\u5e9c\u8d1f\u503a\uff0c\u5305\u62ec\u65b0\u52a0\u5761\u653f\u5e9c\u8bc1\u5238\u548c\u7279\u522b\u65b0\u52a0\u5761\u653f\u5e9c\u8bc1\u5238\uff1b\u4ee5\u53ca\uff082\uff09\u6765\u81ea\u5176\u4f59\u8fc7\u53bb\u50a8\u5907\u8d44\u4ea7\u7684**\u51c0\u6295\u8d44\u6536\u5165\uff08NII\uff09**\u7684\u6700\u9ad8 **50%**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002**NII \u6846\u67b6**\uff082001 \u5e74\uff09\u4fdd\u969c\u81f3\u5c11\u4e00\u534a\u7684\u5b9e\u9645\u6536\u5165\uff1b**NIR \u6846\u67b6**\uff082008 \u5e74\uff09\u5141\u8bb8\u52a8\u7528\u6700\u9ad8\u4e00\u534a\u7684**\u9884\u671f\u957f\u671f\u5b9e\u9645\u56de\u62a5\u7387\uff08ELTRROR\uff09**\uff0c\u5305\u62ec\u8d44\u672c\u5229\u5f97\uff0c\u4ee5\u5e73\u6291\u6ce2\u52a8\u5e76\u4fdd\u7559\u8d2d\u4e70\u529b\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002\n\n\u8d22\u653f\u90e8\u79f0\uff0cNIRC \u8d44\u52a9**\u7ea6 20% \u7684\u5e74\u5ea6\u653f\u5e9c\u652f\u51fa**\uff1b**2026 \u8d22\u653f\u5e74\u5ea6\u7684 NIRC \u4f30\u7b97\u4e3a S$28.48 \u5341\u4ebf\u65b0\u5143**\uff08[\u8d22\u653f\u90e8\u50a8\u5907\u7528\u9014\u9875\u9762\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)\uff09\u3002NIRC \u662f**\u9884\u7b97\u6536\u5165**\uff0c\u5e76\u975e\u76f4\u63a5\u63d0\u53d6\u5df2\u62ab\u9732\u7684\u50a8\u5907\u672c\u91d1\uff0c\u4e5f\u4e0d\u5f97\u4e0e\u4e2a\u4eba\u7684\u516c\u79ef\u91d1\uff08CPF\uff09\u4f59\u989d\u6216\u6de1\u9a6c\u9521\u516c\u5e03\u7684\u6295\u8d44\u7ec4\u5408\u51c0\u503c\u6df7\u6dc6\uff08[GIC \u4e0e\u6de1\u9a6c\u9521](\/zh\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)\uff09\u3002\n\n## NIRC \u7684\u5e74\u5ea6\u8bbe\u5b9a\u4e0e\u6838\u67e5\u65b9\u5f0f\n\n\u5728\u6bcf\u4e2a\u8d22\u653f\u5e74\u5ea6\u5f00\u59cb\u524d\uff0cGIC\u3001MAS \u548c\u6de1\u9a6c\u9521\u7684\u8463\u4e8b\u4f1a\u4f1a\u6839\u636e\u4e13\u4e1a\u8bc4\u4f30\u63d0\u51fa\u9884\u671f\u957f\u671f\u5b9e\u9645\u56de\u62a5\u7387\uff08ELTRROR\uff09\uff1b\u8d22\u653f\u90e8\uff08MOF\uff09\u5ba1\u67e5\u76f8\u5173\u65b9\u6cd5\uff0c\u5e76\u5728\u5f81\u8be2\u603b\u7edf\u987e\u95ee\u7406\u4e8b\u4f1a\u540e\uff0c\u5bfb\u6c42**\u603b\u7edf\u540c\u610f**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff1b[\u603b\u7edf\u804c\u4f4d](\/zh\/knowledge\/article\/sgkb.government-politics.presidency)\uff09\u3002\u5982\u679c\u653f\u5e9c\u4e0e\u603b\u7edf\u5bf9 ELTRROR \u5b58\u5728\u5206\u6b67\uff0c\u8be5\u5e74\u5ea6 NIR \u5c06\u91c7\u7528**\u8fc7\u53bb 20 \u5e74\u7684\u5386\u53f2\u5e73\u5747\u5b9e\u9645\u56de\u62a5\u7387**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff1b[\u8d22\u653f\u90e8\uff1a\u8fc7\u53bb\u50a8\u5907\u7684\u4fdd\u62a4\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)\uff09\u3002\u8d22\u653f\u5e74\u5ea6\u7ed3\u675f\u540e\uff0c**\u8d22\u653f\u90e8\u957f\u5411\u603b\u7edf\u8bc1\u660e**\u5b9e\u9645\u8ba1\u5165\u9884\u7b97\u7684 NIR \u91d1\u989d\u672a\u8d85\u51fa\u5baa\u6cd5\u89c4\u5b9a\u7684\u4e0a\u9650\uff08[\u8d22\u653f\u90e8\uff1a\u8fc7\u53bb\u50a8\u5907\u7684\u4fdd\u62a4\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)\uff09\u3002\u8d22\u653f\u90e8\u8fd8\u79f0\uff0cNIRC \u6570\u5b57\u4f1a\u63d0\u4ea4\u7ed9\u603b\u7edf\u529e\u516c\u5ba4\uff0c\u5e76\u7531**\u5ba1\u8ba1\u7f72**\u5ba1\u8ba1\uff08[\u8d22\u653f\u90e8\u50a8\u5907\u7528\u9014\u9875\u9762\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)\uff09\u3002\n\n**\u5e74\u5ea6 NIRC \u91d1\u989d\u4f1a\u5728\u9884\u7b97\u4e2d\u516c\u5e03**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002\u8bfb\u8005\u82e5\u95ee\u201c\u65b0\u52a0\u5761\u4eca\u5e74\u4ece\u50a8\u5907\u4e2d\u652f\u51fa\u4e86\u591a\u5c11\uff1f\u201d\uff0c\u9700\u8981\u67e5\u770b\u516c\u5e03\u7684 NIRC \u9879\u76ee\u548c\u76f8\u5e94\u7684**\u8d22\u653f\u5e74\u5ea6\uff08FY\uff09**\u6807\u6ce8\uff0c\u800c\u4e0d\u662f\u5f15\u7528\u4e00\u4e2a\u672a\u6ce8\u660e\u65e5\u671f\u7684\u767e\u5206\u6bd4\u3002\n\n## \u516c\u5e73\u3001\u8f6c\u79fb\u652f\u4ed8\u4e0e\u5e74\u5ea6\u9884\u7b97\u5468\u671f\n\n\u8d22\u653f\u90e8\u63cf\u8ff0\u7684**\u7a0e\u6536\u4e0e\u8f6c\u79fb\u652f\u4ed8\u5236\u5ea6\u5177\u6709\u7d2f\u8fdb\u6027**\uff1a\u8f83\u5bcc\u88d5\u7684\u5bb6\u5ead\u7f34\u7eb3\u66f4\u591a\uff0c\u800c\u5c31\u4e1a\u5165\u606f\u8865\u52a9\uff08**Workfare Income Supplement**\uff09\u3001\u4e50\u9f84\u8865\u52a9\uff08**Silver Support**\uff09\uff0c\u4ee5\u53ca\u9762\u5411\u5148\u950b\u4e00\u4ee3\uff08**Pioneer**\uff09\u548c\u5efa\u56fd\u4e00\u4ee3\uff08**Merdeka**\uff09\u7fa4\u4f53\u7684\u4e16\u4ee3\u914d\u5957\u7b49\u8f6c\u79fb\u652f\u4ed8\uff0c\u5219\u5c06\u8d44\u6e90\u91cd\u65b0\u5206\u914d\u7ed9\u4f4e\u6536\u5165\u548c\u5f31\u52bf\u7fa4\u4f53\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u66f4\u5e7f\u6cdb\u7684\u5411\u4e0a\u6d41\u52a8\u8ba1\u5212\u2014\u2014\u4ef7\u683c\u53ef\u8d1f\u62c5\u7684\u5b66\u524d\u6559\u80b2\u3001**ComLink+**\u3001\u4f4f\u623f\u548c\u533b\u7597\u4fdd\u5065\u8865\u8d34\u2014\u2014\u4e5f\u5c5e\u4e8e\u540c\u4e00\u8d22\u653f\u6846\u67b6\uff0c\u4f46\u7531\u5404\u4e3b\u7ba1\u90e8\u95e8\u6267\u884c\uff1b\u672c\u6587\u4e0d\u9010\u9879\u5217\u51fa\u5404\u8ba1\u5212\u7684\u8865\u52a9\u6807\u51c6\u3002\n\n**\u5e74\u5ea6\u9884\u7b97**\u662f\u653f\u5e9c\u7684\u4e3b\u8981\u8d22\u653f\u58f0\u660e\uff0c\u5176\u4e2d\u5217\u51fa\u9884\u4f30\u6536\u5165\u548c\u652f\u51fa\u3001\u5404\u9886\u57df\u8ba1\u5212\uff0c\u4ee5\u53ca\u9700\u8981\u8bae\u4f1a\u6279\u51c6\u7684\u63aa\u65bd\u3002\u5404\u90e8\u59d4\u968f\u540e\u4f1a\u5728**\u62e8\u6b3e\u59d4\u5458\u4f1a**\u8fa9\u8bba\u4e2d\u4e3a\u5176\u9884\u7b97\u4f30\u7b97\u8fa9\u62a4\uff1b\u62e8\u6b3e\u6cd5\u6848\u6388\u6743\u8be5\u8d22\u653f\u5e74\u5ea6\u7684\u652f\u51fa\u3002\u8be6\u7ec6\u7684 OFP \u8868\u683c\u548c\u7279\u5b9a\u5e74\u5ea6\u603b\u989d\u5e94\u67e5\u9605\u8be5\u8d22\u653f\u5e74\u5ea6\u53d1\u5e03\u7684\u9884\u7b97\uff0c\u800c\u4e0d\u5e94\u5199\u5165\u957f\u671f\u901a\u7528\u7684\u8bf4\u660e\u6587\u5b57\u3002\u5371\u673a\u65f6\u671f\u52a8\u7528**\u8fc7\u53bb\u50a8\u5907**\u987b\u6839\u636e\u5baa\u6cd5\u4fdd\u969c\u6846\u67b6\u53d6\u5f97\u603b\u7edf\u6279\u51c6\uff08[\u8d22\u653f\u90e8\uff1a\u8fc7\u53bb\u50a8\u5907\u7684\u4fdd\u62a4\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)\uff1b[\u603b\u7edf\u804c\u4f4d](\/zh\/knowledge\/article\/sgkb.government-politics.presidency)\uff09\u3002\n\n## \u5e38\u89c1\u68c0\u7d22\u9519\u8bef\n\n\u5e38\u89c1\u9519\u8bef\u5305\u62ec\u5c06 **NIRC** \u89c6\u4e3a\u6de1\u9a6c\u9521\u7684\u5168\u90e8\u80a1\u606f\uff0c\u5c06 MAS \u548c\u6de1\u9a6c\u9521\u516c\u5e03\u7684\u8d44\u4ea7\u6570\u5b57\u76f8\u52a0\u540e\u79f0\u4e3a\u201c\u50a8\u5907\u603b\u989d\u201d\uff0c\u5f15\u7528**2026 \u8d22\u653f\u5e74\u5ea6 NIRC\uff08S$28.48 \u5341\u4ebf\u65b0\u5143\uff09**\u5374\u672a\u6807\u660e\u8d22\u653f\u5e74\u5ea6\uff0c\u6216\u4ee5\u4e3a\u65b0\u52a0\u5761\u50cf\u8bb8\u591a\u53d1\u8fbe\u7ecf\u6d4e\u4f53\u4e00\u6837\uff0c\u901a\u5e38\u4f9d\u9760\u503a\u5238\u5e02\u573a\u4e3a\u5de8\u989d\u8d22\u653f\u8d64\u5b57\u878d\u8d44\u3002\u8d22\u653f\u90e8\u5f3a\u8c03**\u5ba1\u614e\u79ef\u7d2f\u50a8\u5907**\u3001\u5c06 NIRC \u4f5c\u4e3a\u7a33\u5b9a\u6536\u5165\u6765\u6e90\uff0c\u4ee5\u53ca\u5728\u5371\u673a\u4e2d\u52a8\u7528\u8fc7\u53bb\u50a8\u5907\u800c\u65e0\u9700\u5927\u91cf\u501f\u6b3e\u7684\u80fd\u529b\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff1b[\u8d22\u653f\u90e8\u50a8\u5907\u7528\u9014\u9875\u9762\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)\uff09\u3002\u5173\u4e8e\u5b8f\u89c2\u7ed3\u6784\u548c\u5404\u884c\u4e1a\u4ea7\u51fa\uff0c\u8bf7\u53c2\u9605[\u7ecf\u6d4e\u6982\u89c8](\/zh\/knowledge\/article\/sgkb.economy-finance.economy-overview)\uff1b\u5173\u4e8e\u7a0e\u6536\u673a\u5236\uff0c\u8bf7\u53c2\u9605[\u7a0e\u5236](\/zh\/knowledge\/article\/sgkb.economy-finance.taxation-system)\uff1b\u5173\u4e8e\u50a8\u5907\u7684\u673a\u6784\u7ba1\u7406\uff0c\u8bf7\u53c2\u9605[GIC \u4e0e\u6de1\u9a6c\u9521](\/zh\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)\u3002"}},"sources":[{"url":"https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/","title":"MOF \u2014 Fiscal policies 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and equity through balanced budgets, progressive taxes and transfers, and NIRC-funded spending; the annual Budget sets revenue, expenditure and the Overall Fiscal Position.","markdown":"# Fiscal Policy and Government Budget\n\n**Fiscal policy** in Singapore is how the Government raises revenue (mainly taxes and fees, supplemented by investment returns) and allocates spending to support macroeconomic stability, long-term growth and social equity ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). The Ministry of Finance describes the approach as maintaining **balanced budgets over the long term**, investing for future needs, and keeping the tax-and-transfer system **progressive** while preserving a comparatively light overall fiscal burden ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). Fiscal policy complements **exchange-rate-centred monetary policy** ([mas and monetary policy](\/en\/knowledge\/article\/sgkb.economy-finance.mas-and-monetary-policy)) and labour-market institutions such as tripartite wage guidelines ([labour market and wages](\/en\/knowledge\/article\/sgkb.economy-finance.labour-market-and-wages)); it is not interchangeable with Temasek dividends or MAS foreign-reserve management, which are explained in [gic and temasek](\/en\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek).\n\n## Objectives, spending priorities and sustainability\n\nMOF states that fiscal sustainability, growth and equity are the three headline objectives ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). Public spending focuses on public goods and infrastructure \u2014 security, education, skills, healthcare and aged care, transport and city renewal, climate transition and competitiveness \u2014 with **social spending accounting for about half of total expenditure** as of MOF's February 2026 overview ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). MOF also notes that **about 20% of the budget** is devoted to development and investment, including innovation, digitalisation and connectivity ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)).\n\nSingapore's **government expenditure as a share of GDP** is described by MOF as among the lowest across advanced economies, while outcomes in areas such as health and education remain comparatively strong on international benchmarks cited on the same page ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). That framing is policy narrative, not a substitute for quoting a specific year's **Overall Fiscal Position (OFP)** from published Budget documents when a reader needs surplus or deficit figures.\n\n## Revenue, taxes and the Net Investment Returns Contribution\n\nTaxes remain the core recurring revenue source; statutory rates and filing rules are summarised in [taxation system](\/en\/knowledge\/article\/sgkb.economy-finance.taxation-system) and volatile anchors such as GST appear in [annual rates](\/en\/knowledge\/dataset\/sgkb.data.annual-rates). A distinctive feature is the **Net Investment Returns Contribution (NIRC)**, which supplements tax revenue by bringing expected long-term returns on past reserves into the annual Budget ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)).\n\nNIRC comprises (1) up to **50%** of **Net Investment Returns (NIR)** on net assets invested by **GIC, MAS and Temasek**, minus Government liabilities including Singapore Government Securities and Special Singapore Government Securities; and (2) up to **50%** of **Net Investment Income (NII)** from remaining past-reserve assets ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)). The **NII framework** (2001) protects at least half of actual income; the **NIR framework** (2008) allows spending up to half of the **expected long-term real rate of return (ELTRROR)**, including capital gains, to smooth volatility and preserve purchasing power ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)).\n\nMOF states that NIRC funds **about 20% of annual Government spending**; the **estimated NIRC for FY2026 is S$28.48 billion** ([MOF reserves uses page, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)). NIRC is **budget revenue**, not a direct withdrawal of disclosed reserve principal, and must not be confused with an individual's CPF balance or Temasek's published net portfolio value ([gic and temasek](\/en\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)).\n\n## How NIRC is set and checked each year\n\nBefore each financial year, boards of GIC, MAS and Temasek propose ELTRRORs based on professional assessment; MOF reviews the methodologies and seeks the **President's concurrence**, after consultation with the **Council of Presidential Advisers** ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/); [presidency](\/en\/knowledge\/article\/sgkb.government-politics.presidency)). If Government and President disagree on an ELTRROR, the **20-year historical average real rate of return** is used for that year's NIR ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/); [MOF Past Reserves protection, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)). After the financial year closes, the **Minister for Finance certifies** to the President the NIR actually taken into the Budget within constitutional caps ([MOF Past Reserves protection, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)). MOF also states that NIRC figures are submitted to the President's Office and audited by the **Auditor-General's Office** ([MOF reserves uses page, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)).\n\nThe annual **NIRC dollar amount is published in the Budget** ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)). Readers asking \"how much did Singapore spend from reserves this year?\" need the published NIRC line and the relevant **financial year (FY)** label, not a single undated percentage.\n\n## Equity, transfers and the annual Budget cycle\n\nMOF describes a **progressive tax-and-transfer system**: better-off households contribute more, while transfers such as **Workfare Income Supplement**, **Silver Support**, and generation packages for **Pioneer** and **Merdeka** cohorts redistribute toward lower-income and vulnerable groups ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). Broader mobility programmes \u2014 affordable preschool, **ComLink+**, housing and healthcare subsidies \u2014 sit in the same fiscal frame but are implemented through line ministries; this article does not restate every scheme rate.\n\nThe **annual Budget** is the Government's principal fiscal statement: it presents estimated revenue and expenditure, sectoral plans, and measures requiring parliamentary approval. Ministries then defend their estimates in **Committee of Supply** debates; supply legislation authorises spending for the financial year. Detailed OFP tables and year-specific totals belong in the published Budget for that FY, not in evergreen prose. Crisis-era **Past Reserves** drawdowns require presidential approval under the constitutional protection framework ([MOF Past Reserves protection, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/); [presidency](\/en\/knowledge\/article\/sgkb.government-politics.presidency)).\n\n## Common retrieval mistakes\n\nErrors include treating **NIRC** as Temasek's entire dividend, adding MAS and Temasek published asset figures into \"total reserves,\" quoting **FY2026 NIRC (S$28.48 billion)** without the FY label, or assuming Singapore runs large routine fiscal deficits funded by bond markets like many advanced economies. MOF emphasises **prudent reserve accumulation**, NIRC as a steady revenue stream, and the ability to deploy Past Reserves in crises without heavy borrowing ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/); [MOF reserves uses page, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)). For macro structure and sectoral output, use [economy overview](\/en\/knowledge\/article\/sgkb.economy-finance.economy-overview); for tax mechanics, [taxation system](\/en\/knowledge\/article\/sgkb.economy-finance.taxation-system); for institutional reserve management, [gic and temasek](\/en\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)."},"zh":{"title":"\u8d22\u653f\u653f\u7b56\u4e0e\u653f\u5e9c\u9884\u7b97","summary":"\u65b0\u52a0\u5761\u7684\u8d22\u653f\u653f\u7b56\u901a\u8fc7\u5e73\u8861\u9884\u7b97\u3001\u7d2f\u8fdb\u7a0e\u6536\u548c\u8f6c\u79fb\u652f\u4ed8\uff0c\u4ee5\u53ca\u7531\u51c0\u6295\u8d44\u56de\u62a5\u8d21\u732e\uff08NIRC\uff09\u8d44\u52a9\u7684\u652f\u51fa\uff0c\u81f4\u529b\u4e8e\u957f\u671f\u53ef\u6301\u7eed\u53d1\u5c55\u3001\u589e\u957f\u548c\u516c\u5e73\uff1b\u5e74\u5ea6\u9884\u7b97\u5217\u660e\u6536\u5165\u3001\u652f\u51fa\u548c\u603b\u4f53\u8d22\u653f\u72b6\u51b5\uff08OFP\uff09\u3002","markdown":"# 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\u4e0e\u8d27\u5e01\u653f\u7b56](\/zh\/knowledge\/article\/sgkb.economy-finance.mas-and-monetary-policy)\uff09\uff0c\u4e5f\u4e0e\u4e09\u65b9\u5de5\u8d44\u6307\u5f15\u7b49\u52b3\u52a8\u529b\u5e02\u573a\u5236\u5ea6\u4e92\u4e3a\u8865\u5145\uff08[\u52b3\u52a8\u529b\u5e02\u573a\u4e0e\u5de5\u8d44](\/zh\/knowledge\/article\/sgkb.economy-finance.labour-market-and-wages)\uff09\uff1b\u5b83\u4e0d\u80fd\u4e0e\u6de1\u9a6c\u9521\u80a1\u606f\u6216\u65b0\u52a0\u5761\u91d1\u878d\u7ba1\u7406\u5c40\uff08MAS\uff09\u5916\u6c47\u50a8\u5907\u7ba1\u7406\u6df7\u4e3a\u4e00\u8c08\uff0c\u76f8\u5173\u5185\u5bb9\u89c1[GIC \u4e0e\u6de1\u9a6c\u9521](\/zh\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)\u3002\n\n## \u76ee\u6807\u3001\u652f\u51fa\u91cd\u70b9\u4e0e\u53ef\u6301\u7eed\u6027\n\n\u8d22\u653f\u90e8\uff08MOF\uff09\u6307\u51fa\uff0c\u8d22\u653f\u53ef\u6301\u7eed\u6027\u3001\u589e\u957f\u548c\u516c\u5e73\u662f\u4e09\u9879\u9996\u8981\u76ee\u6807\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u516c\u5171\u652f\u51fa\u91cd\u70b9\u6295\u5411\u516c\u5171\u670d\u52a1\u548c\u57fa\u7840\u8bbe\u65bd\u2014\u2014\u5b89\u5168\u3001\u6559\u80b2\u3001\u6280\u80fd\u3001\u533b\u7597\u4fdd\u5065\u548c\u8001\u5e74\u62a4\u7406\u3001\u4ea4\u901a\u4e0e\u57ce\u5e02\u66f4\u65b0\u3001\u6c14\u5019\u8f6c\u578b\u548c\u7ade\u4e89\u529b\u2014\u2014\u622a\u81f3\u8d22\u653f\u90e8 2026 \u5e74\u4e8c\u6708\u7684\u6982\u89c8\uff0c**\u793e\u4f1a\u652f\u51fa\u7ea6\u5360\u603b\u652f\u51fa\u7684\u4e00\u534a**\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u8d22\u653f\u90e8\u8fd8\u6307\u51fa\uff0c**\u9884\u7b97\u7ea6\u6709 20%**\u7528\u4e8e\u53d1\u5c55\u548c\u6295\u8d44\uff0c\u5305\u62ec\u521b\u65b0\u3001\u6570\u5b57\u5316\u548c\u4e92\u8054\u4e92\u901a\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\n\n\u8d22\u653f\u90e8\u79f0\uff0c\u65b0\u52a0\u5761\u7684**\u653f\u5e9c\u652f\u51fa\u5360\u56fd\u5185\u751f\u4ea7\u603b\u503c\uff08GDP\uff09\u7684\u6bd4\u4f8b**\u5728\u53d1\u8fbe\u7ecf\u6d4e\u4f53\u4e2d\u5c5e\u4e8e\u6700\u4f4e\u6c34\u5e73\u4e4b\u4e00\uff0c\u800c\u540c\u4e00\u9875\u9762\u5f15\u7528\u7684\u56fd\u9645\u57fa\u51c6\u663e\u793a\uff0c\u65b0\u52a0\u5761\u5728\u536b\u751f\u548c\u6559\u80b2\u7b49\u9886\u57df\u7684\u6210\u679c\u4ecd\u76f8\u5bf9\u8f83\u597d\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u8fd9\u79cd\u8868\u8ff0\u5c5e\u4e8e\u653f\u7b56\u53d9\u8ff0\uff0c\u4e0d\u80fd\u66ff\u4ee3\u5f15\u7528\u5df2\u53d1\u5e03\u9884\u7b97\u6587\u4ef6\u4e2d\u7684\u7279\u5b9a\u5e74\u5ea6**\u603b\u4f53\u8d22\u653f\u72b6\u51b5\uff08OFP\uff09**\uff0c\u5c24\u5176\u662f\u8bfb\u8005\u9700\u8981\u76c8\u4f59\u6216\u8d64\u5b57\u6570\u636e\u65f6\u3002\n\n## \u6536\u5165\u3001\u7a0e\u6536\u4e0e\u51c0\u6295\u8d44\u56de\u62a5\u8d21\u732e\n\n\u7a0e\u6536\u4ecd\u662f\u6838\u5fc3\u7ecf\u5e38\u6027\u6536\u5165\u6765\u6e90\uff1b\u6cd5\u5b9a\u7a0e\u7387\u548c\u7533\u62a5\u89c4\u5219\u89c1[\u7a0e\u5236](\/zh\/knowledge\/article\/sgkb.economy-finance.taxation-system)\uff0c\u800c\u6d88\u8d39\u7a0e\uff08GST\uff09\u7b49\u6ce2\u52a8\u6027\u6570\u636e\u89c1[\u5e74\u5ea6\u7a0e\u7387](\/zh\/knowledge\/dataset\/sgkb.data.annual-rates)\u3002\u4e00\u9879\u7279\u8272\u673a\u5236\u662f**\u51c0\u6295\u8d44\u56de\u62a5\u8d21\u732e\uff08NIRC\uff09**\uff0c\u5b83\u5c06\u8fc7\u53bb\u50a8\u5907\u7684\u9884\u671f\u957f\u671f\u56de\u62a5\u7eb3\u5165\u5e74\u5ea6\u9884\u7b97\uff0c\u4ee5\u8865\u5145\u7a0e\u6536\u6536\u5165\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002\n\nNIRC \u5305\u62ec\uff1a\uff081\uff09\u7531**\u65b0\u52a0\u5761\u653f\u5e9c\u6295\u8d44\u516c\u53f8\uff08GIC\uff09**\u3001**MAS** \u548c**\u6de1\u9a6c\u9521**\u6295\u8d44\u7684\u51c0\u8d44\u4ea7\u6240\u4ea7\u751f\u7684**\u51c0\u6295\u8d44\u56de\u62a5\uff08NIR\uff09**\u7684\u6700\u9ad8 **50%**\uff0c\u6263\u9664\u653f\u5e9c\u8d1f\u503a\uff0c\u5305\u62ec\u65b0\u52a0\u5761\u653f\u5e9c\u8bc1\u5238\u548c\u7279\u522b\u65b0\u52a0\u5761\u653f\u5e9c\u8bc1\u5238\uff1b\u4ee5\u53ca\uff082\uff09\u6765\u81ea\u5176\u4f59\u8fc7\u53bb\u50a8\u5907\u8d44\u4ea7\u7684**\u51c0\u6295\u8d44\u6536\u5165\uff08NII\uff09**\u7684\u6700\u9ad8 **50%**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002**NII \u6846\u67b6**\uff082001 \u5e74\uff09\u4fdd\u969c\u81f3\u5c11\u4e00\u534a\u7684\u5b9e\u9645\u6536\u5165\uff1b**NIR \u6846\u67b6**\uff082008 \u5e74\uff09\u5141\u8bb8\u52a8\u7528\u6700\u9ad8\u4e00\u534a\u7684**\u9884\u671f\u957f\u671f\u5b9e\u9645\u56de\u62a5\u7387\uff08ELTRROR\uff09**\uff0c\u5305\u62ec\u8d44\u672c\u5229\u5f97\uff0c\u4ee5\u5e73\u6291\u6ce2\u52a8\u5e76\u4fdd\u7559\u8d2d\u4e70\u529b\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002\n\n\u8d22\u653f\u90e8\u79f0\uff0cNIRC \u8d44\u52a9**\u7ea6 20% \u7684\u5e74\u5ea6\u653f\u5e9c\u652f\u51fa**\uff1b**2026 \u8d22\u653f\u5e74\u5ea6\u7684 NIRC \u4f30\u7b97\u4e3a S$28.48 \u5341\u4ebf\u65b0\u5143**\uff08[\u8d22\u653f\u90e8\u50a8\u5907\u7528\u9014\u9875\u9762\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)\uff09\u3002NIRC \u662f**\u9884\u7b97\u6536\u5165**\uff0c\u5e76\u975e\u76f4\u63a5\u63d0\u53d6\u5df2\u62ab\u9732\u7684\u50a8\u5907\u672c\u91d1\uff0c\u4e5f\u4e0d\u5f97\u4e0e\u4e2a\u4eba\u7684\u516c\u79ef\u91d1\uff08CPF\uff09\u4f59\u989d\u6216\u6de1\u9a6c\u9521\u516c\u5e03\u7684\u6295\u8d44\u7ec4\u5408\u51c0\u503c\u6df7\u6dc6\uff08[GIC \u4e0e\u6de1\u9a6c\u9521](\/zh\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)\uff09\u3002\n\n## NIRC \u7684\u5e74\u5ea6\u8bbe\u5b9a\u4e0e\u6838\u67e5\u65b9\u5f0f\n\n\u5728\u6bcf\u4e2a\u8d22\u653f\u5e74\u5ea6\u5f00\u59cb\u524d\uff0cGIC\u3001MAS \u548c\u6de1\u9a6c\u9521\u7684\u8463\u4e8b\u4f1a\u4f1a\u6839\u636e\u4e13\u4e1a\u8bc4\u4f30\u63d0\u51fa\u9884\u671f\u957f\u671f\u5b9e\u9645\u56de\u62a5\u7387\uff08ELTRROR\uff09\uff1b\u8d22\u653f\u90e8\uff08MOF\uff09\u5ba1\u67e5\u76f8\u5173\u65b9\u6cd5\uff0c\u5e76\u5728\u5f81\u8be2\u603b\u7edf\u987e\u95ee\u7406\u4e8b\u4f1a\u540e\uff0c\u5bfb\u6c42**\u603b\u7edf\u540c\u610f**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff1b[\u603b\u7edf\u804c\u4f4d](\/zh\/knowledge\/article\/sgkb.government-politics.presidency)\uff09\u3002\u5982\u679c\u653f\u5e9c\u4e0e\u603b\u7edf\u5bf9 ELTRROR \u5b58\u5728\u5206\u6b67\uff0c\u8be5\u5e74\u5ea6 NIR \u5c06\u91c7\u7528**\u8fc7\u53bb 20 \u5e74\u7684\u5386\u53f2\u5e73\u5747\u5b9e\u9645\u56de\u62a5\u7387**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff1b[\u8d22\u653f\u90e8\uff1a\u8fc7\u53bb\u50a8\u5907\u7684\u4fdd\u62a4\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)\uff09\u3002\u8d22\u653f\u5e74\u5ea6\u7ed3\u675f\u540e\uff0c**\u8d22\u653f\u90e8\u957f\u5411\u603b\u7edf\u8bc1\u660e**\u5b9e\u9645\u8ba1\u5165\u9884\u7b97\u7684 NIR \u91d1\u989d\u672a\u8d85\u51fa\u5baa\u6cd5\u89c4\u5b9a\u7684\u4e0a\u9650\uff08[\u8d22\u653f\u90e8\uff1a\u8fc7\u53bb\u50a8\u5907\u7684\u4fdd\u62a4\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)\uff09\u3002\u8d22\u653f\u90e8\u8fd8\u79f0\uff0cNIRC \u6570\u5b57\u4f1a\u63d0\u4ea4\u7ed9\u603b\u7edf\u529e\u516c\u5ba4\uff0c\u5e76\u7531**\u5ba1\u8ba1\u7f72**\u5ba1\u8ba1\uff08[\u8d22\u653f\u90e8\u50a8\u5907\u7528\u9014\u9875\u9762\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)\uff09\u3002\n\n**\u5e74\u5ea6 NIRC \u91d1\u989d\u4f1a\u5728\u9884\u7b97\u4e2d\u516c\u5e03**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002\u8bfb\u8005\u82e5\u95ee\u201c\u65b0\u52a0\u5761\u4eca\u5e74\u4ece\u50a8\u5907\u4e2d\u652f\u51fa\u4e86\u591a\u5c11\uff1f\u201d\uff0c\u9700\u8981\u67e5\u770b\u516c\u5e03\u7684 NIRC \u9879\u76ee\u548c\u76f8\u5e94\u7684**\u8d22\u653f\u5e74\u5ea6\uff08FY\uff09**\u6807\u6ce8\uff0c\u800c\u4e0d\u662f\u5f15\u7528\u4e00\u4e2a\u672a\u6ce8\u660e\u65e5\u671f\u7684\u767e\u5206\u6bd4\u3002\n\n## \u516c\u5e73\u3001\u8f6c\u79fb\u652f\u4ed8\u4e0e\u5e74\u5ea6\u9884\u7b97\u5468\u671f\n\n\u8d22\u653f\u90e8\u63cf\u8ff0\u7684**\u7a0e\u6536\u4e0e\u8f6c\u79fb\u652f\u4ed8\u5236\u5ea6\u5177\u6709\u7d2f\u8fdb\u6027**\uff1a\u8f83\u5bcc\u88d5\u7684\u5bb6\u5ead\u7f34\u7eb3\u66f4\u591a\uff0c\u800c\u5c31\u4e1a\u5165\u606f\u8865\u52a9\uff08**Workfare Income Supplement**\uff09\u3001\u4e50\u9f84\u8865\u52a9\uff08**Silver Support**\uff09\uff0c\u4ee5\u53ca\u9762\u5411\u5148\u950b\u4e00\u4ee3\uff08**Pioneer**\uff09\u548c\u5efa\u56fd\u4e00\u4ee3\uff08**Merdeka**\uff09\u7fa4\u4f53\u7684\u4e16\u4ee3\u914d\u5957\u7b49\u8f6c\u79fb\u652f\u4ed8\uff0c\u5219\u5c06\u8d44\u6e90\u91cd\u65b0\u5206\u914d\u7ed9\u4f4e\u6536\u5165\u548c\u5f31\u52bf\u7fa4\u4f53\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u66f4\u5e7f\u6cdb\u7684\u5411\u4e0a\u6d41\u52a8\u8ba1\u5212\u2014\u2014\u4ef7\u683c\u53ef\u8d1f\u62c5\u7684\u5b66\u524d\u6559\u80b2\u3001**ComLink+**\u3001\u4f4f\u623f\u548c\u533b\u7597\u4fdd\u5065\u8865\u8d34\u2014\u2014\u4e5f\u5c5e\u4e8e\u540c\u4e00\u8d22\u653f\u6846\u67b6\uff0c\u4f46\u7531\u5404\u4e3b\u7ba1\u90e8\u95e8\u6267\u884c\uff1b\u672c\u6587\u4e0d\u9010\u9879\u5217\u51fa\u5404\u8ba1\u5212\u7684\u8865\u52a9\u6807\u51c6\u3002\n\n**\u5e74\u5ea6\u9884\u7b97**\u662f\u653f\u5e9c\u7684\u4e3b\u8981\u8d22\u653f\u58f0\u660e\uff0c\u5176\u4e2d\u5217\u51fa\u9884\u4f30\u6536\u5165\u548c\u652f\u51fa\u3001\u5404\u9886\u57df\u8ba1\u5212\uff0c\u4ee5\u53ca\u9700\u8981\u8bae\u4f1a\u6279\u51c6\u7684\u63aa\u65bd\u3002\u5404\u90e8\u59d4\u968f\u540e\u4f1a\u5728**\u62e8\u6b3e\u59d4\u5458\u4f1a**\u8fa9\u8bba\u4e2d\u4e3a\u5176\u9884\u7b97\u4f30\u7b97\u8fa9\u62a4\uff1b\u62e8\u6b3e\u6cd5\u6848\u6388\u6743\u8be5\u8d22\u653f\u5e74\u5ea6\u7684\u652f\u51fa\u3002\u8be6\u7ec6\u7684 OFP \u8868\u683c\u548c\u7279\u5b9a\u5e74\u5ea6\u603b\u989d\u5e94\u67e5\u9605\u8be5\u8d22\u653f\u5e74\u5ea6\u53d1\u5e03\u7684\u9884\u7b97\uff0c\u800c\u4e0d\u5e94\u5199\u5165\u957f\u671f\u901a\u7528\u7684\u8bf4\u660e\u6587\u5b57\u3002\u5371\u673a\u65f6\u671f\u52a8\u7528**\u8fc7\u53bb\u50a8\u5907**\u987b\u6839\u636e\u5baa\u6cd5\u4fdd\u969c\u6846\u67b6\u53d6\u5f97\u603b\u7edf\u6279\u51c6\uff08[\u8d22\u653f\u90e8\uff1a\u8fc7\u53bb\u50a8\u5907\u7684\u4fdd\u62a4\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)\uff1b[\u603b\u7edf\u804c\u4f4d](\/zh\/knowledge\/article\/sgkb.government-politics.presidency)\uff09\u3002\n\n## \u5e38\u89c1\u68c0\u7d22\u9519\u8bef\n\n\u5e38\u89c1\u9519\u8bef\u5305\u62ec\u5c06 **NIRC** \u89c6\u4e3a\u6de1\u9a6c\u9521\u7684\u5168\u90e8\u80a1\u606f\uff0c\u5c06 MAS \u548c\u6de1\u9a6c\u9521\u516c\u5e03\u7684\u8d44\u4ea7\u6570\u5b57\u76f8\u52a0\u540e\u79f0\u4e3a\u201c\u50a8\u5907\u603b\u989d\u201d\uff0c\u5f15\u7528**2026 \u8d22\u653f\u5e74\u5ea6 NIRC\uff08S$28.48 \u5341\u4ebf\u65b0\u5143\uff09**\u5374\u672a\u6807\u660e\u8d22\u653f\u5e74\u5ea6\uff0c\u6216\u4ee5\u4e3a\u65b0\u52a0\u5761\u50cf\u8bb8\u591a\u53d1\u8fbe\u7ecf\u6d4e\u4f53\u4e00\u6837\uff0c\u901a\u5e38\u4f9d\u9760\u503a\u5238\u5e02\u573a\u4e3a\u5de8\u989d\u8d22\u653f\u8d64\u5b57\u878d\u8d44\u3002\u8d22\u653f\u90e8\u5f3a\u8c03**\u5ba1\u614e\u79ef\u7d2f\u50a8\u5907**\u3001\u5c06 NIRC \u4f5c\u4e3a\u7a33\u5b9a\u6536\u5165\u6765\u6e90\uff0c\u4ee5\u53ca\u5728\u5371\u673a\u4e2d\u52a8\u7528\u8fc7\u53bb\u50a8\u5907\u800c\u65e0\u9700\u5927\u91cf\u501f\u6b3e\u7684\u80fd\u529b\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff1b[\u8d22\u653f\u90e8\u50a8\u5907\u7528\u9014\u9875\u9762\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)\uff09\u3002\u5173\u4e8e\u5b8f\u89c2\u7ed3\u6784\u548c\u5404\u884c\u4e1a\u4ea7\u51fa\uff0c\u8bf7\u53c2\u9605[\u7ecf\u6d4e\u6982\u89c8](\/zh\/knowledge\/article\/sgkb.economy-finance.economy-overview)\uff1b\u5173\u4e8e\u7a0e\u6536\u673a\u5236\uff0c\u8bf7\u53c2\u9605[\u7a0e\u5236](\/zh\/knowledge\/article\/sgkb.economy-finance.taxation-system)\uff1b\u5173\u4e8e\u50a8\u5907\u7684\u673a\u6784\u7ba1\u7406\uff0c\u8bf7\u53c2\u9605[GIC \u4e0e\u6de1\u9a6c\u9521](\/zh\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)\u3002"}},"title_en":"Fiscal Policy and Government Budget","title_zh":"\u8d22\u653f\u653f\u7b56\u4e0e\u653f\u5e9c\u9884\u7b97","source_id":"sgkb.economy-finance.fiscal-policy-and-government-budget","input_hash":"1f57c17c602c52b6250100b1201dd7b6d0665ea6e567dbd3230f8e62a4ba5fb2","summary_en":"Singapore's fiscal policy aims for long-term sustainability, growth and equity through balanced budgets, progressive taxes and transfers, and NIRC-funded spending; the annual Budget sets revenue, expenditure and the Overall Fiscal Position.","summary_zh":"\u65b0\u52a0\u5761\u7684\u8d22\u653f\u653f\u7b56\u901a\u8fc7\u5e73\u8861\u9884\u7b97\u3001\u7d2f\u8fdb\u7a0e\u6536\u548c\u8f6c\u79fb\u652f\u4ed8\uff0c\u4ee5\u53ca\u7531\u51c0\u6295\u8d44\u56de\u62a5\u8d21\u732e\uff08NIRC\uff09\u8d44\u52a9\u7684\u652f\u51fa\uff0c\u81f4\u529b\u4e8e\u957f\u671f\u53ef\u6301\u7eed\u53d1\u5c55\u3001\u589e\u957f\u548c\u516c\u5e73\uff1b\u5e74\u5ea6\u9884\u7b97\u5217\u660e\u6536\u5165\u3001\u652f\u51fa\u548c\u603b\u4f53\u8d22\u653f\u72b6\u51b5\uff08OFP\uff09\u3002","bundle_sha256":"a40766305abc16909d8c0ebc8231c31596ff8547264a43ae958159f718ddfa5e","evidence_paths":["source\/economy-finance\/fiscal-policy-and-government-budget.md","artefacts\/retrieval-chunks.jsonl","artefacts\/document-classification.jsonl"],"expected_version":0},"search_text":"Fiscal Policy and Government Budget\n\u8d22\u653f\u653f\u7b56\u4e0e\u653f\u5e9c\u9884\u7b97\nSingapore's fiscal policy aims for long-term sustainability, growth and equity through balanced budgets, progressive taxes and transfers, and NIRC-funded spending; the annual Budget sets revenue, expenditure and the Overall Fiscal Position.\n\u65b0\u52a0\u5761\u7684\u8d22\u653f\u653f\u7b56\u901a\u8fc7\u5e73\u8861\u9884\u7b97\u3001\u7d2f\u8fdb\u7a0e\u6536\u548c\u8f6c\u79fb\u652f\u4ed8\uff0c\u4ee5\u53ca\u7531\u51c0\u6295\u8d44\u56de\u62a5\u8d21\u732e\uff08NIRC\uff09\u8d44\u52a9\u7684\u652f\u51fa\uff0c\u81f4\u529b\u4e8e\u957f\u671f\u53ef\u6301\u7eed\u53d1\u5c55\u3001\u589e\u957f\u548c\u516c\u5e73\uff1b\u5e74\u5ea6\u9884\u7b97\u5217\u660e\u6536\u5165\u3001\u652f\u51fa\u548c\u603b\u4f53\u8d22\u653f\u72b6\u51b5\uff08OFP\uff09\u3002\n{\"aliases\":[\"Singapore government budget\",\"fiscal sustainability\",\"NIRC in Budget\"],\"classification_confidence\":\"medium\",\"classification_source\":\"domain-default\",\"document_id\":\"sgkb.economy-finance.fiscal-policy-and-government-budget\",\"document_sha256\":\"dd5ffd9f635a8908222304bd986fdf0a788cd2ae5a964143a8f0d4afcb09a212\",\"document_type\":\"article\",\"domain\":\"economy-finance\",\"entities\":[\"sg.agency.mof\"],\"facets\":[\"institution\",\"policy\",\"statistics\"],\"geographic_scope\":[\"national\"],\"jurisdiction\":\"SG\",\"language\":\"en\",\"last_verified\":\"2026-10-14\",\"path\":\"economy-finance\\\/fiscal-policy-and-government-budget.md\",\"related\":[],\"sources\":[{\"accessed\":\"2026-10-14\",\"title\":\"MOF \u2014 Fiscal policies overview\",\"url\":\"https:\\\/\\\/www.mof.gov.sg\\\/policies\\\/fiscal\\\/overview\\\/\"},{\"accessed\":\"2026-10-14\",\"title\":\"MOF \u2014 Net Investment Returns Contribution\",\"url\":\"https:\\\/\\\/www.mof.gov.sg\\\/policies\\\/reserves\\\/net-investment-returns-contribution\\\/\"},{\"accessed\":\"2026-10-14\",\"title\":\"MOF \u2014 What are the reserves used for?\",\"url\":\"https:\\\/\\\/www.mof.gov.sg\\\/policies\\\/reserves\\\/what-are-the-reserves-used-for\\\/\"},{\"accessed\":\"2026-10-14\",\"title\":\"MOF \u2014 How are Past Reserves protected?\",\"url\":\"https:\\\/\\\/www.mof.gov.sg\\\/policies\\\/reserves\\\/how-are-past-reserves-protected\\\/\"}],\"status\":\"verified\",\"summary\":\"Singapore's fiscal policy aims for long-term sustainability, growth and equity through balanced budgets, progressive taxes and transfers, and NIRC-funded spending; the annual Budget sets revenue, expenditure and the Overall Fiscal Position.\",\"tags\":[\"policy\",\"public-finance\",\"concept\",\"statistics\"],\"temporal_scope\":\"current\",\"title\":\"Fiscal Policy and Government Budget\",\"topics\":[\"sgtopic.economy\",\"sgtopic.economy.fiscal-policy\",\"sgtopic.economy.taxation\"],\"volatility\":\"slow\"}\n# Fiscal Policy and Government Budget\n\n**Fiscal policy** in Singapore is how the Government raises revenue (mainly taxes and fees, supplemented by investment returns) and allocates spending to support macroeconomic stability, long-term growth and social equity ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). The Ministry of Finance describes the approach as maintaining **balanced budgets over the long term**, investing for future needs, and keeping the tax-and-transfer system **progressive** while preserving a comparatively light overall fiscal burden ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). Fiscal policy complements **exchange-rate-centred monetary policy** ([mas and monetary policy](\/en\/knowledge\/article\/sgkb.economy-finance.mas-and-monetary-policy)) and labour-market institutions such as tripartite wage guidelines ([labour market and wages](\/en\/knowledge\/article\/sgkb.economy-finance.labour-market-and-wages)); it is not interchangeable with Temasek dividends or MAS foreign-reserve management, which are explained in [gic and temasek](\/en\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek).\n\n## Objectives, spending priorities and sustainability\n\nMOF states that fiscal sustainability, growth and equity are the three headline objectives ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). Public spending focuses on public goods and infrastructure \u2014 security, education, skills, healthcare and aged care, transport and city renewal, climate transition and competitiveness \u2014 with **social spending accounting for about half of total expenditure** as of MOF's February 2026 overview ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). MOF also notes that **about 20% of the budget** is devoted to development and investment, including innovation, digitalisation and connectivity ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)).\n\nSingapore's **government expenditure as a share of GDP** is described by MOF as among the lowest across advanced economies, while outcomes in areas such as health and education remain comparatively strong on international benchmarks cited on the same page ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). That framing is policy narrative, not a substitute for quoting a specific year's **Overall Fiscal Position (OFP)** from published Budget documents when a reader needs surplus or deficit figures.\n\n## Revenue, taxes and the Net Investment Returns Contribution\n\nTaxes remain the core recurring revenue source; statutory rates and filing rules are summarised in [taxation system](\/en\/knowledge\/article\/sgkb.economy-finance.taxation-system) and volatile anchors such as GST appear in [annual rates](\/en\/knowledge\/dataset\/sgkb.data.annual-rates). A distinctive feature is the **Net Investment Returns Contribution (NIRC)**, which supplements tax revenue by bringing expected long-term returns on past reserves into the annual Budget ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)).\n\nNIRC comprises (1) up to **50%** of **Net Investment Returns (NIR)** on net assets invested by **GIC, MAS and Temasek**, minus Government liabilities including Singapore Government Securities and Special Singapore Government Securities; and (2) up to **50%** of **Net Investment Income (NII)** from remaining past-reserve assets ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)). The **NII framework** (2001) protects at least half of actual income; the **NIR framework** (2008) allows spending up to half of the **expected long-term real rate of return (ELTRROR)**, including capital gains, to smooth volatility and preserve purchasing power ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)).\n\nMOF states that NIRC funds **about 20% of annual Government spending**; the **estimated NIRC for FY2026 is S$28.48 billion** ([MOF reserves uses page, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)). NIRC is **budget revenue**, not a direct withdrawal of disclosed reserve principal, and must not be confused with an individual's CPF balance or Temasek's published net portfolio value ([gic and temasek](\/en\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)).\n\n## How NIRC is set and checked each year\n\nBefore each financial year, boards of GIC, MAS and Temasek propose ELTRRORs based on professional assessment; MOF reviews the methodologies and seeks the **President's concurrence**, after consultation with the **Council of Presidential Advisers** ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/); [presidency](\/en\/knowledge\/article\/sgkb.government-politics.presidency)). If Government and President disagree on an ELTRROR, the **20-year historical average real rate of return** is used for that year's NIR ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/); [MOF Past Reserves protection, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)). After the financial year closes, the **Minister for Finance certifies** to the President the NIR actually taken into the Budget within constitutional caps ([MOF Past Reserves protection, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)). MOF also states that NIRC figures are submitted to the President's Office and audited by the **Auditor-General's Office** ([MOF reserves uses page, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)).\n\nThe annual **NIRC dollar amount is published in the Budget** ([MOF NIRC page, updated Oct 2025](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)). Readers asking \"how much did Singapore spend from reserves this year?\" need the published NIRC line and the relevant **financial year (FY)** label, not a single undated percentage.\n\n## Equity, transfers and the annual Budget cycle\n\nMOF describes a **progressive tax-and-transfer system**: better-off households contribute more, while transfers such as **Workfare Income Supplement**, **Silver Support**, and generation packages for **Pioneer** and **Merdeka** cohorts redistribute toward lower-income and vulnerable groups ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)). Broader mobility programmes \u2014 affordable preschool, **ComLink+**, housing and healthcare subsidies \u2014 sit in the same fiscal frame but are implemented through line ministries; this article does not restate every scheme rate.\n\nThe **annual Budget** is the Government's principal fiscal statement: it presents estimated revenue and expenditure, sectoral plans, and measures requiring parliamentary approval. Ministries then defend their estimates in **Committee of Supply** debates; supply legislation authorises spending for the financial year. Detailed OFP tables and year-specific totals belong in the published Budget for that FY, not in evergreen prose. Crisis-era **Past Reserves** drawdowns require presidential approval under the constitutional protection framework ([MOF Past Reserves protection, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/); [presidency](\/en\/knowledge\/article\/sgkb.government-politics.presidency)).\n\n## Common retrieval mistakes\n\nErrors include treating **NIRC** as Temasek's entire dividend, adding MAS and Temasek published asset figures into \"total reserves,\" quoting **FY2026 NIRC (S$28.48 billion)** without the FY label, or assuming Singapore runs large routine fiscal deficits funded by bond markets like many advanced economies. MOF emphasises **prudent reserve accumulation**, NIRC as a steady revenue stream, and the ability to deploy Past Reserves in crises without heavy borrowing ([MOF fiscal overview, updated Feb 2026](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/); [MOF reserves uses page, accessed Oct 2026](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)). For macro structure and sectoral output, use [economy overview](\/en\/knowledge\/article\/sgkb.economy-finance.economy-overview); for tax mechanics, [taxation system](\/en\/knowledge\/article\/sgkb.economy-finance.taxation-system); for institutional reserve management, [gic and temasek](\/en\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek).\n# \u8d22\u653f\u653f\u7b56\u4e0e\u653f\u5e9c\u9884\u7b97\n\n\u65b0\u52a0\u5761\u7684**\u8d22\u653f\u653f\u7b56**\u662f\u653f\u5e9c\u7b79\u96c6\u6536\u5165\uff08\u4e3b\u8981\u6765\u81ea\u7a0e\u6536\u548c\u6536\u8d39\uff0c\u6295\u8d44\u56de\u62a5\u4ea6\u4e3a\u8865\u5145\uff09\u5e76\u5206\u914d\u652f\u51fa\u7684\u65b9\u5f0f\uff0c\u65e8\u5728\u652f\u6301\u5b8f\u89c2\u7ecf\u6d4e\u7a33\u5b9a\u3001\u957f\u671f\u589e\u957f\u548c\u793e\u4f1a\u516c\u5e73\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026\u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u8d22\u653f\u90e8\uff08MOF\uff09\u5c06\u5176\u505a\u6cd5\u63cf\u8ff0\u4e3a\u957f\u671f\u7ef4\u6301**\u5e73\u8861\u9884\u7b97**\u3001\u4e3a\u672a\u6765\u9700\u8981\u6295\u8d44\uff0c\u5e76\u4fdd\u6301\u7a0e\u6536\u4e0e\u8f6c\u79fb\u652f\u4ed8\u5236\u5ea6\u7684**\u7d2f\u8fdb\u6027**\uff0c\u540c\u65f6\u7ef4\u6301\u76f8\u5bf9\u8f83\u8f7b\u7684\u6574\u4f53\u8d22\u653f\u8d1f\u62c5\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026\u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u8d22\u653f\u653f\u7b56\u4e0e**\u4ee5\u6c47\u7387\u4e3a\u6838\u5fc3\u7684\u8d27\u5e01\u653f\u7b56**\u4e92\u4e3a\u8865\u5145\uff08[MAS \u4e0e\u8d27\u5e01\u653f\u7b56](\/zh\/knowledge\/article\/sgkb.economy-finance.mas-and-monetary-policy)\uff09\uff0c\u4e5f\u4e0e\u4e09\u65b9\u5de5\u8d44\u6307\u5f15\u7b49\u52b3\u52a8\u529b\u5e02\u573a\u5236\u5ea6\u4e92\u4e3a\u8865\u5145\uff08[\u52b3\u52a8\u529b\u5e02\u573a\u4e0e\u5de5\u8d44](\/zh\/knowledge\/article\/sgkb.economy-finance.labour-market-and-wages)\uff09\uff1b\u5b83\u4e0d\u80fd\u4e0e\u6de1\u9a6c\u9521\u80a1\u606f\u6216\u65b0\u52a0\u5761\u91d1\u878d\u7ba1\u7406\u5c40\uff08MAS\uff09\u5916\u6c47\u50a8\u5907\u7ba1\u7406\u6df7\u4e3a\u4e00\u8c08\uff0c\u76f8\u5173\u5185\u5bb9\u89c1[GIC \u4e0e\u6de1\u9a6c\u9521](\/zh\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)\u3002\n\n## \u76ee\u6807\u3001\u652f\u51fa\u91cd\u70b9\u4e0e\u53ef\u6301\u7eed\u6027\n\n\u8d22\u653f\u90e8\uff08MOF\uff09\u6307\u51fa\uff0c\u8d22\u653f\u53ef\u6301\u7eed\u6027\u3001\u589e\u957f\u548c\u516c\u5e73\u662f\u4e09\u9879\u9996\u8981\u76ee\u6807\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u516c\u5171\u652f\u51fa\u91cd\u70b9\u6295\u5411\u516c\u5171\u670d\u52a1\u548c\u57fa\u7840\u8bbe\u65bd\u2014\u2014\u5b89\u5168\u3001\u6559\u80b2\u3001\u6280\u80fd\u3001\u533b\u7597\u4fdd\u5065\u548c\u8001\u5e74\u62a4\u7406\u3001\u4ea4\u901a\u4e0e\u57ce\u5e02\u66f4\u65b0\u3001\u6c14\u5019\u8f6c\u578b\u548c\u7ade\u4e89\u529b\u2014\u2014\u622a\u81f3\u8d22\u653f\u90e8 2026 \u5e74\u4e8c\u6708\u7684\u6982\u89c8\uff0c**\u793e\u4f1a\u652f\u51fa\u7ea6\u5360\u603b\u652f\u51fa\u7684\u4e00\u534a**\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u8d22\u653f\u90e8\u8fd8\u6307\u51fa\uff0c**\u9884\u7b97\u7ea6\u6709 20%**\u7528\u4e8e\u53d1\u5c55\u548c\u6295\u8d44\uff0c\u5305\u62ec\u521b\u65b0\u3001\u6570\u5b57\u5316\u548c\u4e92\u8054\u4e92\u901a\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\n\n\u8d22\u653f\u90e8\u79f0\uff0c\u65b0\u52a0\u5761\u7684**\u653f\u5e9c\u652f\u51fa\u5360\u56fd\u5185\u751f\u4ea7\u603b\u503c\uff08GDP\uff09\u7684\u6bd4\u4f8b**\u5728\u53d1\u8fbe\u7ecf\u6d4e\u4f53\u4e2d\u5c5e\u4e8e\u6700\u4f4e\u6c34\u5e73\u4e4b\u4e00\uff0c\u800c\u540c\u4e00\u9875\u9762\u5f15\u7528\u7684\u56fd\u9645\u57fa\u51c6\u663e\u793a\uff0c\u65b0\u52a0\u5761\u5728\u536b\u751f\u548c\u6559\u80b2\u7b49\u9886\u57df\u7684\u6210\u679c\u4ecd\u76f8\u5bf9\u8f83\u597d\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u8fd9\u79cd\u8868\u8ff0\u5c5e\u4e8e\u653f\u7b56\u53d9\u8ff0\uff0c\u4e0d\u80fd\u66ff\u4ee3\u5f15\u7528\u5df2\u53d1\u5e03\u9884\u7b97\u6587\u4ef6\u4e2d\u7684\u7279\u5b9a\u5e74\u5ea6**\u603b\u4f53\u8d22\u653f\u72b6\u51b5\uff08OFP\uff09**\uff0c\u5c24\u5176\u662f\u8bfb\u8005\u9700\u8981\u76c8\u4f59\u6216\u8d64\u5b57\u6570\u636e\u65f6\u3002\n\n## \u6536\u5165\u3001\u7a0e\u6536\u4e0e\u51c0\u6295\u8d44\u56de\u62a5\u8d21\u732e\n\n\u7a0e\u6536\u4ecd\u662f\u6838\u5fc3\u7ecf\u5e38\u6027\u6536\u5165\u6765\u6e90\uff1b\u6cd5\u5b9a\u7a0e\u7387\u548c\u7533\u62a5\u89c4\u5219\u89c1[\u7a0e\u5236](\/zh\/knowledge\/article\/sgkb.economy-finance.taxation-system)\uff0c\u800c\u6d88\u8d39\u7a0e\uff08GST\uff09\u7b49\u6ce2\u52a8\u6027\u6570\u636e\u89c1[\u5e74\u5ea6\u7a0e\u7387](\/zh\/knowledge\/dataset\/sgkb.data.annual-rates)\u3002\u4e00\u9879\u7279\u8272\u673a\u5236\u662f**\u51c0\u6295\u8d44\u56de\u62a5\u8d21\u732e\uff08NIRC\uff09**\uff0c\u5b83\u5c06\u8fc7\u53bb\u50a8\u5907\u7684\u9884\u671f\u957f\u671f\u56de\u62a5\u7eb3\u5165\u5e74\u5ea6\u9884\u7b97\uff0c\u4ee5\u8865\u5145\u7a0e\u6536\u6536\u5165\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002\n\nNIRC \u5305\u62ec\uff1a\uff081\uff09\u7531**\u65b0\u52a0\u5761\u653f\u5e9c\u6295\u8d44\u516c\u53f8\uff08GIC\uff09**\u3001**MAS** \u548c**\u6de1\u9a6c\u9521**\u6295\u8d44\u7684\u51c0\u8d44\u4ea7\u6240\u4ea7\u751f\u7684**\u51c0\u6295\u8d44\u56de\u62a5\uff08NIR\uff09**\u7684\u6700\u9ad8 **50%**\uff0c\u6263\u9664\u653f\u5e9c\u8d1f\u503a\uff0c\u5305\u62ec\u65b0\u52a0\u5761\u653f\u5e9c\u8bc1\u5238\u548c\u7279\u522b\u65b0\u52a0\u5761\u653f\u5e9c\u8bc1\u5238\uff1b\u4ee5\u53ca\uff082\uff09\u6765\u81ea\u5176\u4f59\u8fc7\u53bb\u50a8\u5907\u8d44\u4ea7\u7684**\u51c0\u6295\u8d44\u6536\u5165\uff08NII\uff09**\u7684\u6700\u9ad8 **50%**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002**NII \u6846\u67b6**\uff082001 \u5e74\uff09\u4fdd\u969c\u81f3\u5c11\u4e00\u534a\u7684\u5b9e\u9645\u6536\u5165\uff1b**NIR \u6846\u67b6**\uff082008 \u5e74\uff09\u5141\u8bb8\u52a8\u7528\u6700\u9ad8\u4e00\u534a\u7684**\u9884\u671f\u957f\u671f\u5b9e\u9645\u56de\u62a5\u7387\uff08ELTRROR\uff09**\uff0c\u5305\u62ec\u8d44\u672c\u5229\u5f97\uff0c\u4ee5\u5e73\u6291\u6ce2\u52a8\u5e76\u4fdd\u7559\u8d2d\u4e70\u529b\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002\n\n\u8d22\u653f\u90e8\u79f0\uff0cNIRC \u8d44\u52a9**\u7ea6 20% \u7684\u5e74\u5ea6\u653f\u5e9c\u652f\u51fa**\uff1b**2026 \u8d22\u653f\u5e74\u5ea6\u7684 NIRC \u4f30\u7b97\u4e3a S$28.48 \u5341\u4ebf\u65b0\u5143**\uff08[\u8d22\u653f\u90e8\u50a8\u5907\u7528\u9014\u9875\u9762\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)\uff09\u3002NIRC \u662f**\u9884\u7b97\u6536\u5165**\uff0c\u5e76\u975e\u76f4\u63a5\u63d0\u53d6\u5df2\u62ab\u9732\u7684\u50a8\u5907\u672c\u91d1\uff0c\u4e5f\u4e0d\u5f97\u4e0e\u4e2a\u4eba\u7684\u516c\u79ef\u91d1\uff08CPF\uff09\u4f59\u989d\u6216\u6de1\u9a6c\u9521\u516c\u5e03\u7684\u6295\u8d44\u7ec4\u5408\u51c0\u503c\u6df7\u6dc6\uff08[GIC \u4e0e\u6de1\u9a6c\u9521](\/zh\/knowledge\/article\/sgkb.economy-finance.gic-and-temasek)\uff09\u3002\n\n## NIRC \u7684\u5e74\u5ea6\u8bbe\u5b9a\u4e0e\u6838\u67e5\u65b9\u5f0f\n\n\u5728\u6bcf\u4e2a\u8d22\u653f\u5e74\u5ea6\u5f00\u59cb\u524d\uff0cGIC\u3001MAS \u548c\u6de1\u9a6c\u9521\u7684\u8463\u4e8b\u4f1a\u4f1a\u6839\u636e\u4e13\u4e1a\u8bc4\u4f30\u63d0\u51fa\u9884\u671f\u957f\u671f\u5b9e\u9645\u56de\u62a5\u7387\uff08ELTRROR\uff09\uff1b\u8d22\u653f\u90e8\uff08MOF\uff09\u5ba1\u67e5\u76f8\u5173\u65b9\u6cd5\uff0c\u5e76\u5728\u5f81\u8be2\u603b\u7edf\u987e\u95ee\u7406\u4e8b\u4f1a\u540e\uff0c\u5bfb\u6c42**\u603b\u7edf\u540c\u610f**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff1b[\u603b\u7edf\u804c\u4f4d](\/zh\/knowledge\/article\/sgkb.government-politics.presidency)\uff09\u3002\u5982\u679c\u653f\u5e9c\u4e0e\u603b\u7edf\u5bf9 ELTRROR \u5b58\u5728\u5206\u6b67\uff0c\u8be5\u5e74\u5ea6 NIR \u5c06\u91c7\u7528**\u8fc7\u53bb 20 \u5e74\u7684\u5386\u53f2\u5e73\u5747\u5b9e\u9645\u56de\u62a5\u7387**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff1b[\u8d22\u653f\u90e8\uff1a\u8fc7\u53bb\u50a8\u5907\u7684\u4fdd\u62a4\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)\uff09\u3002\u8d22\u653f\u5e74\u5ea6\u7ed3\u675f\u540e\uff0c**\u8d22\u653f\u90e8\u957f\u5411\u603b\u7edf\u8bc1\u660e**\u5b9e\u9645\u8ba1\u5165\u9884\u7b97\u7684 NIR \u91d1\u989d\u672a\u8d85\u51fa\u5baa\u6cd5\u89c4\u5b9a\u7684\u4e0a\u9650\uff08[\u8d22\u653f\u90e8\uff1a\u8fc7\u53bb\u50a8\u5907\u7684\u4fdd\u62a4\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)\uff09\u3002\u8d22\u653f\u90e8\u8fd8\u79f0\uff0cNIRC \u6570\u5b57\u4f1a\u63d0\u4ea4\u7ed9\u603b\u7edf\u529e\u516c\u5ba4\uff0c\u5e76\u7531**\u5ba1\u8ba1\u7f72**\u5ba1\u8ba1\uff08[\u8d22\u653f\u90e8\u50a8\u5907\u7528\u9014\u9875\u9762\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/what-are-the-reserves-used-for\/)\uff09\u3002\n\n**\u5e74\u5ea6 NIRC \u91d1\u989d\u4f1a\u5728\u9884\u7b97\u4e2d\u516c\u5e03**\uff08[\u8d22\u653f\u90e8 NIRC \u9875\u9762\uff0c2025 \u5e74\u5341\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/reserves\/net-investment-returns-contribution\/)\uff09\u3002\u8bfb\u8005\u82e5\u95ee\u201c\u65b0\u52a0\u5761\u4eca\u5e74\u4ece\u50a8\u5907\u4e2d\u652f\u51fa\u4e86\u591a\u5c11\uff1f\u201d\uff0c\u9700\u8981\u67e5\u770b\u516c\u5e03\u7684 NIRC \u9879\u76ee\u548c\u76f8\u5e94\u7684**\u8d22\u653f\u5e74\u5ea6\uff08FY\uff09**\u6807\u6ce8\uff0c\u800c\u4e0d\u662f\u5f15\u7528\u4e00\u4e2a\u672a\u6ce8\u660e\u65e5\u671f\u7684\u767e\u5206\u6bd4\u3002\n\n## \u516c\u5e73\u3001\u8f6c\u79fb\u652f\u4ed8\u4e0e\u5e74\u5ea6\u9884\u7b97\u5468\u671f\n\n\u8d22\u653f\u90e8\u63cf\u8ff0\u7684**\u7a0e\u6536\u4e0e\u8f6c\u79fb\u652f\u4ed8\u5236\u5ea6\u5177\u6709\u7d2f\u8fdb\u6027**\uff1a\u8f83\u5bcc\u88d5\u7684\u5bb6\u5ead\u7f34\u7eb3\u66f4\u591a\uff0c\u800c\u5c31\u4e1a\u5165\u606f\u8865\u52a9\uff08**Workfare Income Supplement**\uff09\u3001\u4e50\u9f84\u8865\u52a9\uff08**Silver Support**\uff09\uff0c\u4ee5\u53ca\u9762\u5411\u5148\u950b\u4e00\u4ee3\uff08**Pioneer**\uff09\u548c\u5efa\u56fd\u4e00\u4ee3\uff08**Merdeka**\uff09\u7fa4\u4f53\u7684\u4e16\u4ee3\u914d\u5957\u7b49\u8f6c\u79fb\u652f\u4ed8\uff0c\u5219\u5c06\u8d44\u6e90\u91cd\u65b0\u5206\u914d\u7ed9\u4f4e\u6536\u5165\u548c\u5f31\u52bf\u7fa4\u4f53\uff08[\u8d22\u653f\u90e8\u8d22\u653f\u6982\u89c8\uff0c2026 \u5e74\u4e8c\u6708\u66f4\u65b0](https:\/\/www.mof.gov.sg\/policies\/fiscal\/overview\/)\uff09\u3002\u66f4\u5e7f\u6cdb\u7684\u5411\u4e0a\u6d41\u52a8\u8ba1\u5212\u2014\u2014\u4ef7\u683c\u53ef\u8d1f\u62c5\u7684\u5b66\u524d\u6559\u80b2\u3001**ComLink+**\u3001\u4f4f\u623f\u548c\u533b\u7597\u4fdd\u5065\u8865\u8d34\u2014\u2014\u4e5f\u5c5e\u4e8e\u540c\u4e00\u8d22\u653f\u6846\u67b6\uff0c\u4f46\u7531\u5404\u4e3b\u7ba1\u90e8\u95e8\u6267\u884c\uff1b\u672c\u6587\u4e0d\u9010\u9879\u5217\u51fa\u5404\u8ba1\u5212\u7684\u8865\u52a9\u6807\u51c6\u3002\n\n**\u5e74\u5ea6\u9884\u7b97**\u662f\u653f\u5e9c\u7684\u4e3b\u8981\u8d22\u653f\u58f0\u660e\uff0c\u5176\u4e2d\u5217\u51fa\u9884\u4f30\u6536\u5165\u548c\u652f\u51fa\u3001\u5404\u9886\u57df\u8ba1\u5212\uff0c\u4ee5\u53ca\u9700\u8981\u8bae\u4f1a\u6279\u51c6\u7684\u63aa\u65bd\u3002\u5404\u90e8\u59d4\u968f\u540e\u4f1a\u5728**\u62e8\u6b3e\u59d4\u5458\u4f1a**\u8fa9\u8bba\u4e2d\u4e3a\u5176\u9884\u7b97\u4f30\u7b97\u8fa9\u62a4\uff1b\u62e8\u6b3e\u6cd5\u6848\u6388\u6743\u8be5\u8d22\u653f\u5e74\u5ea6\u7684\u652f\u51fa\u3002\u8be6\u7ec6\u7684 OFP \u8868\u683c\u548c\u7279\u5b9a\u5e74\u5ea6\u603b\u989d\u5e94\u67e5\u9605\u8be5\u8d22\u653f\u5e74\u5ea6\u53d1\u5e03\u7684\u9884\u7b97\uff0c\u800c\u4e0d\u5e94\u5199\u5165\u957f\u671f\u901a\u7528\u7684\u8bf4\u660e\u6587\u5b57\u3002\u5371\u673a\u65f6\u671f\u52a8\u7528**\u8fc7\u53bb\u50a8\u5907**\u987b\u6839\u636e\u5baa\u6cd5\u4fdd\u969c\u6846\u67b6\u53d6\u5f97\u603b\u7edf\u6279\u51c6\uff08[\u8d22\u653f\u90e8\uff1a\u8fc7\u53bb\u50a8\u5907\u7684\u4fdd\u62a4\uff0c\u8bbf\u95ee\u4e8e 2026 \u5e74\u5341\u6708](https:\/\/www.mof.gov.sg\/policies\/reserves\/how-are-past-reserves-protected\/)\uff1b[\u603b\u7edf\u804c\u4f4d](\/zh\/knowledge\/article\/sgkb.government-politics.presidency)\uff09\u3002\n\n## \u5e38\u89c1\u68c0\u7d22\u9519\u8bef\n\n\u5e38\u89c1\u9519\u8bef\u5305\u62ec\u5c06 **NIRC** \u89c6\u4e3a\u6de1\u9a6c\u9521\u7684\u5168\u90e8\u80a1\u606f\uff0c\u5c06 MAS 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