Singapore set for modest fiscal push in Budget 2017

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According to Bloomberg, 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 ageing population.

“The urgency for a sizable counter-cyclical fiscal stimulus has probably eased compared to just three months ago,” said Kit Wei Zheng, an economist at Citigroup Inc. in Singapore.

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