WEF Index rankings worse than I originally thought?

WEF

WEF rankings worse than I originally thought?

After writing “S’pore tumbles in WEF Index?” (Jan 16), I just realised after looking at the accompanying chart in the article “Singapore tumbles in WEF index that measures inclusive economic growth” (Straits Times, Jan 16) – that some of Singapore’s rankings may actually be worse.

Social Protection: 29 out of 30 countries  

For example, Singapore’s ranking for Social Protection is 29 out of the 30 countries that make up the advanced economies in the world.

Very low welfare spending?

In this regard, I understand that Singapore’s welfare spending as a percentage of GDP or total government spending is one of the lowest in the world.

Education & Skills – Access: 25 out of 30 countries

For Education and Skills – Access – we are ranked 25 out of the 30.

High % of non-S’poreans in public universities?

I this connection, I understand that the estimated percentage of non-Singaporeans students in the public universities may be over 35 per cent – which may be one of the highest in the world for public universities.

High public spending on non-S’porean students?

Also, I understand that public spending on non-Singaporean students at all levels in the educational institutions, by way of scholarships, tuition grants, etc, may be about $400 million a year.

Fiscal Transfers: 22 out of 30 countries

For Fiscal Transfers – we are ranked at 22.

Highest cash Budget surplus per capita in the world?

In this connection, I understand that our average annual cash Budget surplus (under IMF fiscal reporting guidelines) of about $20 billion a year, may be the highest in the world on a per capita basis.

Corruption and Rents – Concentration of Rents: 22 out of 30 countries

For Corruption and Rents – Concentration of Rents – we are ranked at 22.

Becoming a rentier society?

Quote from the Straits Times article – “Singapore also lagged behind in a category that measures how far a country is from becoming a rentier society, through yardsticks such as the gini coefficient, competitiveness of local markets, and whether there is a banking monopoly.”

2nd highest Gini? 

In this connection, I understand that Singapore’s Gini is the second highest among developed and developing countries.

4th in the Crony-capitalism Index

We are also ranked as number four in the world, in the Crony-capitalism Index (The Economist).

Leong Sze Hian

 

About the Author

Leong
Leong Sze Hian has served as president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), invited to speak more than 200 times in over 30 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of Indonesia and Brunei. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.