The changing global landscape, underpinned by protectionist politics and advances in technology, presents both challenges and opportunities for Singapore, and the city state’s firms and workers must enhance capabilities to thrive, according to the country’s finance minister.
Presenting the annual budget statement in Parliament on Monday, Finance Minister Heng Swee Keat said Singapore must take “decisive action” to position the country amid such “deep shifts” in the global economic environment.
Outlining the government’s revenue and expenditure for the financial year 2017-2018, Heng said Singapore is expected to see an overall surplus of S$1.9 billion ($1.3 billion).
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