The Association of Chartered Certified Accountants (ACCA) says Singapore is ready to be one of the nations with the lowest infrastructure gap at US$400 million, come 2040. ACCA hinted that the government is expected to use a payment scheme to invest up to US$87.8 billion.
When it comes to infrastructure provisions and practices, Singapore is a significant player, and it owes this to its government which continuously addresses momentary issues and future needs, yet remains fiscally sustainable. This was disclosed by Reuter Chua in an interview with Singapore Business Review. He is the country head at ACCA Singapore.
Reuter referred to the floor plan of Infrastructure Asia to foster financing and investment, as well as connect the stakeholders of infrastructures and cause the exchange of helpful ideas amongst other initiatives.
According to this, the city-state, Japan and Canada have been seen as top players and role models when it comes to offsetting the difference between disposable resources and the needed investment infrastructure. For Singapore, the headline figure sits at 0% while that of Canada and Japan are 2% respectively.
Furthermore, Mexico, Myanmar and Brazil were found to be global laggers, and ACCA enjoins the Mexico governments to channel US$699.1 billion towards fixing the nation’s 106% infrastructure gap. Brazil will need about US$1528.44 billion to close its 79% infrastructure gap while Myanmar requires US$144.35 billion to close theirs at 101%.
It’s believed that the world infrastructure investment gap will hit US$149 trillion, going by its high US$400 last year.
Some regions are doing better when it comes to closing the investment infrastructure gap. While Asian countries had about 5.1% of their GDP (US$1.3 trillion) channeled towards infrastructure investment in 2015, Africa invested 4.3%. Europe and America had theirs a bit lower at 2% and 1.7% respectively.
McKinsey Global Institute hopes that the world invests up to US$4.4 trillion if the entire investment infrastructure gap must be bridged.
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