The overall fiscal position is balanced, with an expected surplus of $6.8 billion for fiscal year (FY) 2025, compared with 2024’s revised surplus of $6.4 billion.

The surplus was led by the jump in corporate income tax for FY2024.

Setting aside the Net Investment Returns Contribution (NIRC) and special transfers, the primary deficit comes up to $1.01 billion.

The overall surplus or deficit shows the difference between expenditure and revenue after accounting for NIRC and special transfers, while the primary surplus or deficit shows the difference between operating revenue and total expenditure.

The largest expenditure for 2025 is expected to be for the social development sector – $61 billion, which is 42 per cent of the entire Budget’s expenses.

NOTE: Total figures may not tally due to rounding off.

The largest source of revenue for 2025 is expected to be derived from corporate income tax – $32 billion, which is 22 per cent of the overall Budget revenue.

NOTE: Total figures may not tally due to rounding off.

Highlights of Budget 2025

Below are highlights of 2025’s Budget, including areas that saw the biggest increase or cut, as well as the sector that had the smallest change in expenditure and revenue. Click on each tab below to find out more.

Explore Budget 2025

See the breakdown of allocated expenditure and collected revenue for each sector. Find out which sector contributed the most to the national Budget. Click on each tab below to find out more.