2009 Singapore Budget - I do not comprehend.
Out of curiosity, I decided to take a look at the basic form of the Singapore budget - Revenue and Expenditure. These can be found here (with explanatory notes, which I didn't find particularly helpful):
Here is the press announcement about the budget in Singapore mainstream media:
My confusion lies with the figures ... according to the news report, we are drawing on S$4.9 billion from the reserves to fund the extra ("Resilience Package") programs. Yet, unless I've misread the whole thing, we're expected to have an income of S$55,322,614,000 and an expenditure of S$66,280,667,000. Shouldn't we be drawing on S$11.0 billion from the reserves? or do we have a S$6.1 billion surplus in FY 2008 we could use? Or have I totally misunderstood the definition of national reserves?
It would really be nice if someone knowledgeable with national economics would help me out here ... I've only looked at the 4 most basic summary documents. Will looking at the individual annexes shed more light on the matter?