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Singapore must ensure sufficient revenues to meet growing needs up to 2030

Singapore Budget

Singapore must ensure sufficient revenues to meet growing needs up to 2030

The Edge Singapore Published on Mon, Feb 19, 2018 / 5:29 PM GMT+8

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SINGAPORE (Feb 19): Finance Minister Heng Swee Keat said Singapore is on a “sound fiscal footing” and has sufficient resources to meet its planned spending needs till 2020, but must plan ahead and take measures early to ensure enough revenues to meet growing needs in the next decade from 2021.

Singapore’s spending needs will continue growing across all sectors, with some rising faster and more than others, according to Heng in his 2018 Budget statement.

For the next decade from 2021 to 2030, Heng highlights three key areas of expenditure growth for the nation: healthcare, infrastructure, and security.