Singapore to Unveil a ‘People’s Budget’ Next Week

Singapore’s 2015 budget, taking place as the nation turns 50 and during what could potentially be an election year, will be keenly watched by residents hoping for more financial help for middle income households and increases in health care spending.

Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam is scheduled to deliver the budget next Monday at 3:30pm local time.

“Past budgets had focused on the restructuring and reforming of the economy and incentivizing improvements in labor productivity,” Francis Tan and Jimmy Koh, economists at UOB Group, wrote in a note. “(This year) we expect a ‘geared-to-the-masses’ budget that will address the needs of the majority of eligible voters.”

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