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Emerging stronger together: 8 winners (and non-winners) from the Singapore Budget 2021

February 19, 2021
Dollars and Sense
The Singapore Budget 2021 was announced yesterday in parliament by Deputy Prime Minister and Finance Minister Heng Swee Keat.
Despite the budget’s theme of “Emerging Stronger Together,” as with every budget, there will always be groups of people and entities who will benefit more than others.
The Singapore budget 2021 was no exception. In fact, given that our country is only at the start of its recovery from the Covid-19 pandemic and recession, it’s safe to say that this year’s budget, more so than in any other years, provides us with a strong indication of our government’s area of focus in the coming years ahead. ....

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Singapore's GDP would have contracted 12.4pc in 2020 instead of 5.8pc without Covid-19 support measures, says Finance Ministry | Singapore

Friday, 12 Feb 2021 12:55 PM MYT
According to government estimates, the five Budgets in 2020 boosted the economy by 5.5 percentage points in 2020, which helped Singapore avoid a deeper economic recession. TODAY pic
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SINGAPORE, Feb 12 With help from the Covid-19 support measures rolled out by the Singapore government, Singapore’s economy shrank by 5.8 per cent last year much less than the 12.4 per cent decline that would have occurred otherwise.
Through these measures, Singaporean households received about S$2,000 (RM6,097.65) per member on average last year, while S$27.4 billion in grants were given out to businesses. ....

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Singapore's Budget 2021 expected to be expansionary, despite usual conservative first Budget, say economists | Singapore

Wednesday, 20 Jan 2021 09:06 AM MYT
Economists say Budget 2021 will have to be targeted because it will be the first of the new term of government, and such Budgets tend to be conservative, because the Singapore government strives for a balanced budget at the end of each five-year term. ― Reuters pic
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SINGAPORE, Jan 20 Even though Singapore’s economy is on the mend after weathering the Covid storm, the government will likely run a deficit in Budget 2021, as hard-hit sectors and low-income households still need help.
This is the analysis from four economists who spoke to ....

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