This number is misleading as it doesn't take into account the︁ assets of the country.
"Gross Debt
2.5 The gross debt-to-GDP ratio is a measure of︂ a country’s debt compared to its
economic output. Some international reports list Singapore as having︃ high levels of
Government debt. These include the CIA Public Debt Factbook and the World︄ Economic
Forum. However, this does not mean that Singapore is not fiscally sustainable. For
Singapore, the use of gross debt figures does not provide a meaningful indicator of the
country’s fiscal strengths.
2.6 For example, the level of Government debt outstanding at S$562b (March 2019)︅
or 114% of Gross Domestic Product (GDP)9 appears large on its own. However, the gross︆
debt-to-GDP ratio does not take into account the Government’s sizeable asset position,
which exceeds its︇ liabilities.
Net Debt
2.7 The Singapore Government has a strong balance sheet, with assets well︈ in
excess of its liabilities (i.e. no net debt). This can be seen from the︉ investment returns
that are made available for spending on the Government Budget – or Net︊ Investment
Returns Contribution (NIRC)10. Under the NIR framework, up to 50% of the long-term
expected returns earned on the net assets (i.e. assets net of liabilities) are available for
spending. The NIRC of about S$16 billion taken into the Government’s budget in Fiscal
year 2018︋ for spending means that even after deducting all the Government’s liabilities
(including CPF monies), the︌ remaining net assets are sizeable, and they are expected to
generate significant investment returns. If︍ the Government’s assets had not been
adequate to meet its liabilities, there would be no︎ contribution from the investment
returns on net assets in the Government Budget."
Source:
https://www.mof.gov.sg/docs/default...ts/understanding-singapore-govt-borrowing.pdf
Same is written here in simpler terms:
https://commodity.com/data/singapore/debt-clock/
P.S. this site you quoted - Mauldin Economics️ - is a well known stock newsletter pusher, selling s**t like "Biotech Millionaire"
Biotech Millionaire - Premium Alert Service - Mauldin Economics
So I would take anything his team of writers spew out with a grain of salt.
P.S.S. Debt to GDP doesn't really matter for comparison as neither Switzerland nor Singapore are going bankrupt any time soon.
As for proximity to China, this century looks so far like it is China's century. Any country that can profit from that by managing the wealth of the Chinese should do very well...
