SINGAPORE BUDGET HOLDS FOCUS ON STRUCTURAL ISSUES

SINGAPORE – In its proposed budget for 2013-14, Singapore’s Ministry of Finance continues its focus on structural issues, proposing a fiscal surplus of SGD2.4 billion (0.7% of GDP) against the larger-than-expected SGD3.9 billion surplus in 2012. Inclusive long-term growth through productivity improvements and foreign worker curbs remain the major pillars of the budget, with rules on foreign works to be tightened further (ATI).