S$104 billion Singaporean dollars - that’s the ticket price of the 2023 Singapore Budget aimed at positioning the city state in an era of great competition. There were several initiatives to alleviate near-term cost-of-living pressures such as an increase subsidies by 3 billion dollars to lower-income households. It also aims to narrow the budget deficit to 0.1% of GDP, from a revised 0.3% gap this year. Will the measures announced be effective in addressing Singapore’s economy and the cost of living issues faced by its people? For answers, we speak to Lee Ju Ye, Economist, Maybank Investment Bank.

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