In 2040, Singapore will have one of the smallest infrastructure gaps at S$544.3 million, equivalent to US$400 million – the Association of Chartered Certified Accountants (ACCA). This is coming from the speculations that the Singapore government will invest up to US$87.8 billion between 2014 to 2040.
Reuter Chua, ACCA’s Singaporean country head said in an interview with Singapore Business Review that Singapore is a key player regarding infrastructural practices and provisions, and the government’s relentless efforts to address existing and yet-to-come needs of the nation even while being fiscally sustainable makes it possible.
Furthermore, he cited Infrastructure Asia and its project details, saying that it enhances investment and finances, connects stakeholders of infrastructures and well let them share information with other bodies.
In line with this, Canada, Japan and the city-state were held up as role-models when it comes to bridging the gap between the need investment infrastructure and the available resources as Singapore has 0% as headline figure while the other two nations at 2%.
The global lagers were found to be Myanmar, Mexico and Brazil. However, the ACCA urged Myanmar to invest US$144.35 to close its 101% infrastructure gap while Brazil and Mexico offset their US$1528.44 and US$699.1 billion to close their infrastructure gaps of 79% and 106% respectively.
It’s envisaged that by 2040, the gap will rise to US$149 trillion after it hit US$400 billion last.
Judging by regions, Asian countries had about 5.1% of its GDP, US$1.3 trillion, directed to infrastructure investment in 2015. Likewise, Africa funded theirs with about 4.3% of its GDP while America and Europe stood at 1.7% and 2% respectively.
The world has to push US$4.4 trillion into infrastructure investment to bridge the gap, McKinsey Global Institute says.
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