Singapore’s healthcare spending to become biggest in Government’s coffers

He assured Singaporeans that their basic healthcare needs will continue to be affordable, the Straits Times reported.

Singapore’s healthcare spending to become biggest in Government’s coffers. (Photo: https://www.straitstimes.com/)

In 2025, the government has set aside 20.9 billion SGD (15.6 billion USD) for health, second only to spending on defense, which has a budget of 23.4 billion SGD.

Citing the trajectory of Government healthcare expenditure, which had gone up from 9 billion SGD in 2015 to 18 billion SGD in 204, he predicted that the figure could be close to 30 billion SGD a year by 2030.

A lot of the money will go towards building more facilities, including new hospitals, nursing homes and community care centers, and for manpower costs. But a substantial portion will be spent on subsidies to keep costs down for patients.

However, to maintain a high-quality medical system, he said people will also have to share in the costs of better care, largely with insurance and their MediSave funds, he said.

Source: VNA