President of Singapore
The President of the Republic of Singapore is the country's head of state. Singapore has a parliamentary system of government. Executive authority is exercised by the Cabinet led by the Prime Minister of Singapore. The current president is Halimah Yacob, who was elected unopposed at the 2017 presidential election. She is the first female President of Singapore and first Malay head of state in 47 years since the death of Yusof Bin Ishak, Singapore's first president.
Powers of the President of Singapore
In 1991 the Constitution of Singapore was amended to transform the office of President, which was previously indirectly elected by Parliament, into an office directly elected by the people. The amendment conferred on the President certain executive functions to block attempts by the government of the day to draw down past reserves that it did not accumulate. Thus, a guarantee may only be given or a loan raised by the Government if the President concurs, and his approval is also needed for budgets of specified statutory boards and Government companies that draw on their past reserves. The President also possesses personal discretion to withhold assent to any bill in Parliament providing directly or indirectly for the direct or indirect variation, changing or increase in powers of the Central Provident Fund Board to invest moneys belonging to it; and the borrowing of money, the giving of any guarantee or the raising of any loan by the Government if in the President's opinion the bill is likely to draw on reserves not accumulated by the Government during its current term of office. In addition, the President may withhold assent to any Supply Bill, Supplementary Supply Bill or Final Supply Bill for any financial year if in his opinion the estimates of revenue and expenditure, supplementary estimates or statement of excess are likely to lead to a drawing on past reserves.