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After a strong year, this Singapore Budget faces tough choices
Fiscal discipline and a spirit of innovation will be needed at a time of many competing needs.
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Singapore’s gross domestic product grew by an estimated 4.8 per cent in 2025, the highest since 2021.
ST PHOTO: LIM YAOHUI
2025 was likely a banner year for Singapore’s public finances.
Singapore’s gross domestic product grew by an estimated 4.8 per cent, the highest since 2021. The widely anticipated fallout from US President Donald Trump’s “Liberation Day” tariffs announcements has not materialised – at least not yet – though the mercurial US leader has once again put markets on edge this year with new tariff threats. Stock markets in the US and notably Singapore have powered to new highs and corporate earnings have been strong.
