Pursuits
Singapore Set for Modest Fiscal Push in 2017 Budget as Growth Risks Abound
- Budget to follow strategies to post annual growth of 2%-3%
- Export industry recovering but consumer spending remains weak
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Singapore’s 2017 budget is set to deliver a modest fiscal push to an economy that’s facing a gloomy trade outlook just as it starts to rebound.
With China’s economy showing consistent signs of recovery, spurring exports across the region, the immediate pressure is off Finance Minister Heng Swee Keat to provide a large stimulus package when he gives his budget speech in Parliament on Monday. Consumer demand remains weak though, and with global uncertainties mounting, the fiscal policy focus is set to stay on targeted measures and plans to spur productivity in a country grappling with an aging population.