Singapore: Budget 2019 will continue government’s strategy for navigating global uncertainty: Indranee

  • The Singapore Government will keep its 2019 Budget aimed at helping the economy navigate global uncertainties through innovation, internationalisation and capability building for workers, said Minister in the Prime Minister’s Office and Second Minister for Finance and Education Indranee Rajah on 1 Feb 19.
  • She added that Budget 2019 is a continuation of the government’s strategy to chart a steady course through this kind of economic uncertainty.
  • When asked about support for small and medium-sized enterprises (SMEs), she said that the best assistance is really to help SMEs to be productive, to help them to see how to best scale up, how to partner with bigger entities to access opportunities. She added that 2019’s Budget will focus “quite a bit” on these areas, as well as moves to further encourage SMEs to band together – although such organisation is most naturally carried out by trade associations and chambers.
  • On the topic of dealing with the disruption caused by technological change, she highlighted the key to help people to be able to come to grips with it, citing the existing SkillsFuture scheme.
  • She also noted that Budget 2019 will have a social focus on education and healthcare whilst also cautioning Singapore not to over-rely on net investments return contribution as the investment climate does change.

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