facebookWith Singapore Budget 2020 giving much needed support for citizens, what do you think Heng Swee Keat and Singapore's Government have in store for us this Budget 2021? Any differences or predictions? - Seedly

Rachelle Lye

Digital Marketing at Fintech

16 Feb 2021

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With Singapore Budget 2020 giving much needed support for citizens, what do you think Heng Swee Keat and Singapore's Government have in store for us this Budget 2021? Any differences or predictions?

  • In the upcoming Budget 2021, Singaporeans can expect support for workers, businesses and the vulnerable.
  • Singapore will likely incur a rare budget deficit this year as the government continues to support its economic recovery from the Covid pandemic, said economists.
  • Singapore held general election last July, so budget 2021 is the first for the current term of government.

Discussion (3)

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@doodle jump Given more time to prepare and examine the landscape, perhaps the government should focus on the less well-served areas that were also hit by the pandemic.

Rachelle Lye

16 Feb 2021

Digital Marketing at Fintech

Budget 2021 will definitely be something to lookout for.

Due to the pandemic, in 2020, Singapore drew up to $52 billion from past reserves and incurred a deficit of $64.9 billion - the largest budget deficit since independence in 1965.

Source: CNBC

This year's Budget is expected to target sectors hit hardest by the pandemic, and helping workers and firms adapt and innovate will be a key priority for Budget 2021.

In order to make up for the deficit and to continue to help Singaporeans affected by COVID-19, the goverment might have to find an alternative way to raise revenue. Raising revenue through taxes would likely be a very unpopular opinion. So, how else?

With GE 2020 that was held last July, budget 2021 will be the first for the current term of government. Excited to see what's in store tomorrow!​​​

Kenneth Lou

16 Feb 2021

Co-founder at Seedly

I'm looking forward to this!

After last year's massive budget stimulus, I think this year's one sh...

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