Thu, Dec 31, 2020 – 10:41 AM
THE Singapore Budget will be delivered in Parliament on Feb 16, 2021, the Ministry of Finance said in a statement on Thursday.
Deputy Prime Minister Heng Swee Keat’s upcoming national spending plan will follow an extraordinary year for fiscal policy amid the Covid-19 pandemic in 2020.
Singapore this year saw an unprecedented four Budgets and two ministerial statements roll out stimulus and support packages for a battered economy. These are expected to incur a deficit of S$74.2 billion, according to government estimates in October.
While the Covid-19 outbreak has been contained here, “the overall outlook remains highly uncertain and will be the case for some time to come”, said Mr Heng, who is also Finance Minister.
“If the trajectory of economic recovery is on track, then we will have a more ‘traditional’ Budget year. But if the situation takes a turn for the worse, we are ready to respond and adapt,” he wrote in a Facebook post.
The Republic has recorded 58,569 coronavirus cases so far, with the Ministry of Trade and Industry forecasting a full-year economic contraction of 6.5 per cent to 6 per cent.
The Budget statement will be broadcast live on television and radio, as well as online at www.singaporebudget.gov.sg.
The government is accepting public feedback on the Budget at go.gov.sg/budget2021views and other channels until Jan 8, 2021.