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SINGAPORE - Singapore announced on Tuesday (Feb 14) narrower fiscal deficits in a budget aimed at helping households manage the rising cost of living while replenishing its pandemic-depleted coffers. The fiscal position is "appropriate for the projected economic conditions this year", finance minister Lawrence Wong told parliament as he presented details of the 2023 budget. Wong, also deputy prime minister,. ....
For 2023, the expected shortfall would be S$0.4 billion, or 0.1% of GDP. Wong announced tax changes that would affect higher-income Singaporeans and large companies but also more support for low-income families, top-ups for a medical assistance fund and a support package to offset a hike in sales tax. ....