Singapore Budget 2021 set for Feb 16

Singapore

THE Singapore Budget will be delivered in Parliament on Feb 16, 2021, the Ministry of Finance said in a statement on Thursday.

Deputy Prime Minister Heng Swee Keat's upcoming national spending plan comes hot on the heels of an extraordinary year for fiscal policy amid the Covid-19 pandemic in 2020.

Singapore this year saw an unprecedented four Budgets and two ministerial statements, which are expected to incur a deficit of S$74.2 billion, according to estimates in October.

"The pandemic is contained locally and vaccination is ongoing. But the overall outlook remains highly uncertain and will be the case for some time to come," Mr Heng, who is also Finance Minister, wrote on Facebook.

"If the trajectory of economic recovery is on track, then we will have a more 'traditional' Budget year. But if the situation takes a turn for the worse, we are ready to respond and adapt."

The Republic has recorded 58,599 coronavirus cases so far, with the Ministry of Trade and Industry forecasting a full-year economic contraction of 6.5 per cent to 6 per cent.

The Budget 2021 statement will be broadcast live on television and radio, and will also be available online at www.singaporebudget.gov.sg.

The government is accepting public feedback on the Budget at go.gov.sg/budget2021views and other channels until Jan 8, 2021.