DPM Heng to deliver Budget 2020 on Feb 18

The Ministry of Finance confirmed today (Jan 1) that Budget 2020 will be delivered in exactly 48 days’ time, on Feb 18.

Finance Minister and Deputy Prime Minister Heng Swee Keat said on Facebook this evening: “I will be delivering the FY2020 Budget Statement in Parliament on Tuesday, 18 February 2020. The Budget is a strategic financial plan to address near-term and long-term issues, not just for the next year but for the years to come.

“Each Budget builds on past Budgets, and lays the groundwork for future Budgets. It also reflects our responsibilities as a nation, our hopes as a society and our priorities for our people.

“As we come close to the end of a decade, Budget 2020 provides us with the opportunity to look back at Singapore’s progress, draw on key lessons and plan our future to take Singapore forward together.”

Echoing Prime Minister Lee Hsien Loong’s concerns over the slowing global economy, the DPM added: “Through the years, we have invested in education, healthcare, security, and infrastructure. The global economy has slowed significantly.

“As the rapid advancements in technology continue to drive changes across all sectors of our economy and across the world, we must continue to transform and innovate our economy. We must stay relevant and useful, develop deep capabilities, stay open and connected to the rest of the world.”

Mr Lee had told the press earlier that Budget 2020 will be strong and suitable to the needs of the Singapore economy, given the state of the world economy.

Highlighting uncertainties around Brexit, the US-China trade tensions and the spat between Japan and South Korea, Mr Lee said it is not surprising that Singapore’s economy has slowed down given the slow growth globally, and that Singapore is preparing for uncertainties based on the state of the world today.

He said: “Finance Minister Heng Swee Keat and all the other agencies are working towards preparing a Budget which will be strong, and suitable to the state of the world, and what the Singapore economy needs.”

In his Facebook post, Mr Heng — who is expected to become Singapore’s fourth Prime Minister sometime after the next election — invited Singaporeans to contribute to the Budget 2020 public feedback exercise, which is ongoing until 10 Jan.

He said: “Do continue to send in your views and suggestions for #SGBudget 2020 through REACHSingapore. This is the essence of the #SingaporeTogether movement, where we all have a part to play in shaping our common future.”

Those who wish to provide views and suggestions on Budget 2020 may do so by using the Singapore Budget 2020 website, the REACH Budget microsite, the REACH feedback form or by contacting REACH on any of their social media channels.

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