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Generous 2025 Budget seen to shield S’pore economy from Trump’s war on global trade
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Most analysts believe the 2025 Budget shows Singapore has the fiscal strength to manage any future crisis.
ST PHOTO: LIM YAOHUI
SINGAPORE – A budget with no new taxes and plenty of giveaways shows the Government is bracing itself for a potential hit to the economy from US President Donald Trump’s escalating trade war.
The pace of growth is already set to slow from 2024, in line with a decelerating global economy amid rising geopolitical tensions that will weigh on investment and consumer spending.
