MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Goldman Sachs On Singapore Budget

SINGAPORE
  • Goldman Sachs: "Singapore’s Ministry of Finance is scheduled to announce the FY24 budget on Friday, February 16. Pre-budget engagement by the government suggest that, similar to the previous year, the budget could focus on three main themes including creating sustainable economy with good quality jobs, social inclusivity (aiding new families, aging population and integrating vulnerable population to the economy) and building a more resilient nation by balancing short-term and long-term needs (e.g. use of reserves). For fiscal year 2023, given higher tax collections, we are revising up our budget balance forecast to broadly balanced from -0.5% of GDP previously. This means that the administration is running a cumulative deficit of ~0.8% of GDP since FY21.
  • Given the constitutional requirement to keep a balanced budget over its five-year term, growth gains expected this year along with rebounding global goods trade and tax rate hikes in the pipeline (GST, property tax, foreign-sourced disposable income, etc) become effective this year, we are revising up our forecast for the budget surplus for FY24 to 0.8% of GDP (from 0.2% of GDP previously). We do not expect significant additional revenue measures to be announced on February 16. We think the government can disburse an additional assurance package to alleviate cost of living concerns for vulnerable households, but as inflation slows, we think it will be smaller in magnitude. The government will likely continue emphasizing the needs to plan for the medium-term strategy such as green transition and expansion of healthcare services."
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.