On 16 February 2021, the Singapore Deputy Prime Minister and Finance Minister, Heng
Swee Keat unveiled in Parliament, the Budget 2021 to focus on strengthening social
compact and support one another, especially those with greater needs; strengthen efforts to
tackle climate changes; and build a sustainable home for generations to come.
THE BUDGET IN SUMMARY
Gross Domestic Product (GDP) growth projected to be 4 to 6 per cent for year 2021 but outlook across various sectors is expected to be uneven. This year’s budget will continue to be expansionary for financial year 2021, with an overall deficit of S$11 billion (2.2% of GDP) as compared to S$64.9 billion (13.9% of GDP) deficit for year 2020.
