Singapore budget surplus: poor ‘fiscal marksmanship’ or prudent forecast?

Singapore’s unexpectedly large budget surplus arises from tough decisions to raise taxes earlier and means that the country is now in a position of strength, Prime Minister Lawrence Wong has said, after MPs questioned the accuracy of his government’s budget forecasts. Earlier this month, Wong revealed in his budget statement that Singapore expected a surplus of S$15.1 billion (US$12 billion), or 1.9 per cent of gross domestic product, for the 2025 financial year ending March, more than double...

By Jean Iau