Large stimulus likely in Singapore Budget: HSBC

Singapore

ECONOMIC growth in Singapore is likely to remain subdued in 2020 and this could be the impetus for a fiscal stimulus package that may be the largest in a decade, according to HSBC Private Bank.

The bank is expecting the Singapore government to embark on a "highly expansionary" budget. The deficit may widen to 1.3 per cent of gross domestic product (GDP) on the back of packages aimed at restoring business and consumer confidence.