Core tip:Singapore’s Finance Minister Heng Swee Keat announced in Parliament on the 20th that the government will set aside 2.4 billion Singapore dollars (1 Singapore dollar approximately US$0.7) in the next four years for implementation. Economic development strategies proposed by the Commission for the Future Economy.
Xinhua News Agency reporter Bao Xuelin
Singapore (CNFIN.COM / XINHUA08 .COM)–Singapore Finance Minister Heng Swee Keat announced in Parliament on the 20th that the government will set aside 2.4 billion Singapore dollars (S$1, approximately US$0.7) in the next four years to implement the economic development strategy proposed by the Future Economic Committee.
On the 9th of this month, the Singapore Future Economic Committee announced its development strategy for the development of the “innovation and interconnected economy” in the next 10 years, including the establishment of an international cooperation project fund to assist Singaporean companies in investing overseas and growing their scale through internationalization. ; Support the “Small and Medium Enterprises Digitalization Plan”; establish a “Global Innovation Alliance” to help Singaporeans gain overseas experience and connections and cooperate with participants in other innovative cities.
The Ministry of Finance expects government fiscal spending to increase rapidly in the next few years, especially in the areas of health care and infrastructure.
The budget shows that the expenditure of Singapore government departments in fiscal year 2017 is expected to be S$3.7 billion, an increase of 5.2% compared with the fiscal year 2016 budget. Overall, the budget surplus for FY17 is expected to be S$1.9 billion, equivalent to 0.4% of GDP.
