In financing long-term infrastructure projects, Singapore's government is looking at its first borrowings since the 1980s, according to analysis by The Business Times Singapore. These borrowings will be made by the country’s statutory boards and government-owned firms, finance minister Heng Swee Keat said during the recent budget announcement in February 2018.
After much speculation, the Singaporean government finally revealed this year’s budget for the country. In his speech, Singapore Finance Minister, Heng Swee Keat talked about three major shifts facing Singapore in the coming decade – a greater emphasis on Asia, the emerging of new technologies and an aging population. The budget that Heng Swee Keat presented featured some surprises as well as some already expected measures.
Singaporeans will be bracing themselves for a hike in taxes ahead of the Singapore Budget that’s slated to be delivered next Monday on 19 February in Parliament. The Budget – to be delivered by Finance Minister Heng Swee Keat – will outline the government’s financial plans for the rest of the year, which include public spending and taxes, among others.
