Singapore's fiscal prudence validated 'time and time again' amid global turmoil: Indranee Rajah
CNA
Leader of the House Indranee Rajah defended the government's larger-than-expected budget surplus, saying Singapore's standing as a "beacon of safety" is not by accident.
SINGAPORE: Singapore's careful approach to managing its finances has proven its worth over and over again, Leader of the House Indranee Rajah said in parliament on Friday (Mar 6).
Speaking at the end of the annual Budget process, Ms Indranee said the country's standing as a "beacon of safety, security and stability" in a world "rocked by turbulence and change" is not by accident.
“It is the result of successive budgets anchored on fiscal prudence, forward planning and catalysing new ways to catch the winds of change even as we provide for current needs. This approach has stood us in good stead,” she added.
In his Budget statement, Prime Minister and Finance Minister Lawrence Wong announced that Singapore’s budget surplus for the 2025 financial year is expected to reach S$15.1 billion (US$12 billion), more than double the earlier estimate of S$6.8 billion.
For the previous financial year, the country recorded a surplus of S$6.4 billion, up from an S$0.8 billion estimate.
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Leader of the House Indranee Rajah defended the government's larger-than-expected budget surplus, saying Singapore's standing as a "beacon of safety" is not by accident.