Protecting social resilience, mobility and cohesion

THE post-pandemic future has come: Singaporeans have rallied together to overcome Covid-19 and the Ministry of Health has adjusted the Dorscon level back to green. Business operations have started to normalise with the re-opening of the economy, and Singapore’s GDP grew by 3.6 per cent in 2022.

Despite what appears to be the official end of the pandemic, its economic legacy persists. Higher inflation, supply chain disruptions, and the resultant pressures on cost of living remain. The geopolitical order is also increasingly fractured, and businesses are concerned about economic decoupling and are moving from efficient supply chains towards more resilient ones.

In this context, the Singapore Budget 2023, aptly titled “Moving Forward in a New Era”, sets out the strategic policy decisions that Singapore is making to navigate these uncertain times.