Deputy Prime Minister and Minister for Finance Heng Swee Keat delivered the 2020 Singapore Budget Statement on February 18 in Parliament. Opening his speech, Mr Heng stressed that growing uncertainties in the global economic climate and the Covid-19 virus outbreak demanded quick responses to address them. Budget 2020 set out a spending injection of $106 billion and registered the highest deficit in a decade $10.9 billon.
On February 21, the Institute conducted a Post-Budget focus group discussion with participants from key trade associations and chambers and accountancy firms. They shared their feedback on the Budget 2020 and discussed how schemes and initiatives from the Budget can be rolled out well to help enterprises.
Click here to read more about Budget 2020 and the key responses and insights gathered from the focus group.