Lawrence Wong unveils Budget 2026 to secure Singapore’s future in a changed world
Prime Minister and Finance Minister Lawrence Wong has unveiled Singapore’s new Budget, describing it as the first step in the effort to secure the country’s future in a changed world. “It lays the groundwork for how we will navigate our next phase of development together as one people,” he said in parliament on Thursday (Feb 12). In this Budget, the government will advance Singapore’s refreshed economic strategy, harness artificial intelligence, build a resilient and skilled workforce, give families more support and greater assurance, protect Singapore’s security and sustainability, and renew and strengthen the Singapore spirit. Mr Wong told the House that he expects to end FY2025 with a surplus of S$15.1 billion, or 1.9 per cent of GDP. For FY2026, he expects a smaller surplus of S$8.5 billion, or one per cent of GDP. He stressed that Singapore’s approach is to keep the Budget balanced over time and across the ups and downs of the economic cycle but added that spending needs will grow across multiple fronts from FY2027.
Prime Minister and Finance Minister Lawrence Wong has unveiled Singapore’s new Budget, describing it as the first step in the effort to secure the country’s future in a changed world. “It lays the groundwork for how we will navigate our next phase of development together as one people,” he said in parliament on Thursday (Feb 12). In this Budget, the government will advance Singapore’s refreshed economic strategy, harness artificial intelligence, build a resilient and skilled workforce, give families more support and greater assurance, protect Singapore’s security and sustainability, and renew and strengthen the Singapore spirit. Mr Wong told the House that he expects to end FY2025 with a surplus of S$15.1 billion, or 1.9 per cent of GDP. For FY2026, he expects a smaller surplus of S$8.5 billion, or one per cent of GDP. He stressed that Singapore’s approach is to keep the Budget balanced over time and across the ups and downs of the economic cycle but added that spending needs will grow across multiple fronts from FY2027.
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