fiscal policy

Indonesia’s 5.6% growth is a fiscal ‘sugar rush’, not a structural boom

How can an economy grow so fast while its currency hits record lows?

The budget is tipped to remain in the red over the coming years, just as the Middle East conflict darkens the economic outlook.

Australia seeks reform, inflation restraint in budget balancing act as Iran war darkens outlook

The central bank has lifted interest rates three times this year to head off the war-driven energy shock

The House of Lords’ Economic Affairs Committee said Rachel Reeves’ fiscal rules were not tough enough to stop public debt from rising.

UK budget rules should seek to lower debt, parliament committee says

Britain’s public sector net debt has risen from 61 per cent in 2009/10 to 95 per cent of GDP by 2025/26

The surprise upswing in growth may have reduced the need for fiscal stimulus beyond what’s planned in the budget for this year.

China hit brakes on fiscal stimulus as economy holds up amid war

The conflict in the Middle East has yet to pose a major threat to the Asian nation

Magyar’s victory demonstrates that democratic systems can correct themselves despite institutions being hollowed out.

The great Hungarian reset

Hungary’s incoming prime minister will have to address the fragile macroeconomic situation head on

Any protracted increase in oil prices is likely to be magnified by the fact that governments are running low on policy ammunition to counter it.

Why this oil shock is different

Governments and central banks are out of policy ammunition to contain the economic fallout

Smoke billowing in central Israel from reported missiles launched from Iran on Friday (Mar 6). Geopolitical shocks in war and peacetime tend to lead to lasting fiscal expansion.

The Iran war presents a ‘guns and butter’ nightmare for investors

How long the conflict will last, and its energy impact, are unknown, but mounting global debt and inflation risks are all too real

The focus lately has shifted decisively towards cost-of-living relief. Transfers for households take the form of, for example, GST vouchers.

Singapore’s special transfers expenditure: a strategic fiscal approach to resource allocation

The mechanism behind this spending shows how institutional design can balance short-term responsiveness with long-term discipline

From Covid-19 to Trump tariffs, the last decade has shown how suddenly economic shocks can happen.
COMMENTARY

Budget 2026: With fiscal marksmanship now harder to achieve, tax changes need stronger justification

Amid growing uncertainty, it is safer to err on the side of fiscal caution – but the public will need to be convinced of this

For a small, open economy like Singapore, “growth outcomes can diverge significantly from forecasts as global conditions evolve”, says Prime Minister and Finance Minister Lawrence Wong.
SINGAPORE BUDGET 2026

Budget 2026: Fiscal forecasts are reasonable, not too conservative: PM Wong

GST hikes remain necessary to provide stable revenues for increased structural spending