The 2021 Budget was delivered by Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance Mr Heng Swee Keat in Parliament on 16 February. It came after an extraordinary 2020 in which there were five Budgets with close to $100 billion committed to fight COVID-19, equivalent to a fifth of GDP.
Singapore has been able to mount a robust response to the COVID-19 pandemic and avert a worse recession and further job losses. Nevertheless, both the country and the rest of the global economy are still not fully clear on the trajectory of the pandemic, and the sense is that it could take four to five years to establish a post-pandemic equilibrium of sorts.
Budget 2021 is the first full financial year of the new government’s term of office, after the General Election in July 2020. While public expenditures to support the economic and social recovery from the COVID-19 crisis are likely to remain elevated this year, fiscal stimulus will be more targeted and focused on facilitating Singapore’s post-COVID-19 recovery.
Join Minister in the Prime Minister’s Office and Second Minister for Finance and National Development Ms Indranee Rajah in a discussion with IPS Corporate Associates on Budget 2021. The session will be held over the Zoom teleconferencing platform, with IPS arranging for a specially curated meal to be delivered to each participant.