Allocations likely for middle class: economist

Singapore

THIS year's Budget will likely target the middle class, with further allocations towards social spending, said Bank of America Merrill Lynch economist Chua Hak Bin on Thursday. INFOGRAPHIC: Increased social spending

He said that this is alongside expectations of a generous "jubilee" Budget on Feb 23, given SG50 celebrations and a possible election this year.

"Last year's budget was generous to the older generation, with the Pioneer Generation Package (worth S$8 billion). This year's budget will likely target the broader middle class, with elections …