Strengthening Singapore's competitive edge with Budget 2022

COVID-19 and other significant headwinds continue to impact economies across the world but Singapore's economic recovery thus far is stronger than expected. According to figures released by the Ministry of Trade and Industry in January, Singapore's gross domestic product (GDP) grew 5.9 per cent year on year in the fourth quarter, bringing full-year growth for 2021 to 7.2 per cent, the fastest since 2010.

This growth, coupled with high vaccination rates, provides a strong foundation for Budget 2022, which should encourage the authorities to double down on key policy in areas that will strengthen Singapore's competitive advantage and social compact, as well as prepare the country for a brighter and greener future.

Keeping borders open