Singapore Tackling High Cost of Living Seen as Top Budget Goal
- More household cushion as inflation persists: Bloomberg survey
- Most respondents see planned GST hike in 2024 to push through
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Singapore’s budget on Tuesday is expected to emphasize a return to pre-pandemic fiscal conservatism, without undermining support to the most vulnerable from rising costs of rent, transport and food.
As the city-state stares down persistent inflation and a bleak global growth outlook, the government will likely prioritize measures to blunt the impact of rising prices on low-income groups, while phasing out Covid-era stimulus just as it did mask-wearing rules. The annual spending plan is also expected to return focus to longer-term investments including digital and green-energy transitions.