Budget 2026: Singapore needs to connect differently in changed global environment
The Republic must adjust to new patterns, and be connected in smarter and more diversified ways, says PM Wong
Add BT as a preferred source
Follow The Business Times’ live coverage of Singapore’s Budget 2026 here.
[SINGAPORE] Singapore needs to adapt and connect differently in a changed global environment, said Finance Minister Lawrence Wong.
While some countries are turning inwards and reducing external independence, that is not an option for Singapore, Wong said in his Budget 2026 speech on Thursday (Feb 12).
“Growth will be harder in this changed world,” Wong said. “We must aim higher, move faster and be prepared to take calculated risks.”
Singapore thus has to adjust to new patterns and be connected in smarter, more diversified and more resilient ways.
“Economic flows are becoming more selective, partnerships more strategic and resilience now matters as much as efficiency,” said Wong, who is also prime minister.
PM Wong noted that Singapore is forging new forms of cooperation with partners sharing this commitment.
This includes the Future of Investment and Trade Partnership and the EU-Singapore Digital Trade Agreement.
Later this year, Singapore will also sign the Agreement on Trade in Essential Supplies with New Zealand. The deal, the first of its kind, will ensure continuity of critical trade flows in times of crisis.
SEE ALSO
Meanwhile, Singapore will step up engagement with fast-growing markets including in Latin America, Africa and the Middle East, by establishing new embassies and strengthening diplomatic and economic presence on the ground.
Furthermore, Singapore is working to deepen regional integration, including cooperating on projects such as the Johor-Singapore Special Economic Zone, and the Batam, Bintan and Karimun Free Trade Zones in Indonesia.
For more of BT’s Budget 2026 coverage, go to bt.sg/budget26
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
