Budget won’t have big impact on inflation
Expenditure in this year’s Budget could reach $43 billion from $36 billion last year. This, however, would not have a significant impact on inflation, the Monetary Authority of Singapore (MAS) has said in its Macroeconomic Review.
Private consumption will rise 0.2 per cent this year due to the growth dividends and personal income tax rebates.
Government spending, meanwhile, will increase due to social and health-care expenditures.
It will, however, be offset by the deferment of government projects worth nearly $3 billion.
This will shave 0.7 per cent off investment growth for the year, the MAS said.
The Budget was also, by nature, non-expansionary, it added.
It aims more to provide medium- to long-term growth by fostering a competitive and innovative business climate, and to cope with the ageing population.
Source : Straits Times - 30 Apr 2008
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