THE maxim "opportunities in a crisis" has often been used in the context of the pandemic. It might be applied to Singapore's Budget 2021, albeit with one small twist: The Budget will also need to address opportunities beyond the immediate crisis.

As the fallout from the pandemic continues to reverberate around the world, Budget 2021 can lay the groundwork for Singapore's long-term success in the post-crisis world. This will require the cultivation of a transformational ecosystem - one that will not only accelerate Singapore's ascent as a Smart Nation, but also cement its position as a global hub for supply chains and green finance.

A truly holistic approach will be needed to set Singapore on course to emerge stronger from the steepest recession in its history. The year 2021 has started on a brighter note, with the economy projected to grow by 5.5 per cent. If vaccines successfully contain the pandemic, then the pace of growth can be even faster. The Budget should give impetus to this fledgling recovery, by providing continued support to businesses and workers.