Singaporean Finance Minister Lawrence Wong delivered the 2023 Budget statement in Parliament on February 14, highlighting narrower deficits of 0.3% of GDP in 2022 and 0.1% of GDP in 2023 even as the city-state helps vulnerable households manage rising costs.
Deputy Prime Minister and Finance Minister Lawrence Wong arrives at Parliament House for the 2023 Singapore Budget on Feb 14, 2023. (Photo: CNA/VNA)
Hanoi (VNA) – Singaporean FinanceMinister Lawrence Wong delivered the 2023 Budget statement in Parliament on February14, highlighting narrower deficits of 0.3% of GDP in 2022 and 0.1% of GDP in2023 even as the city-state helps vulnerable households manage rising costs.
The minister said Singapore will top up its socialassistance fund for low-income families by 300 million SGD (226.2 million USD)and its ‘Medifund’ for medical bills by 1.5 billion SGD. A support package tooffset a recent one-percentage point sales tax hike will also be enhanced from 6.6billion SGD to 9.6 billion SGD.
As Singapore’s fertility rate drops and its societyages, the government plans to do more to support parents with the costs ofraising children.
Working mothers will get 8,000 SGD in tax relief for afirst child and 10,000 SGD for a second child. A “baby bonus” cash gift willincrease by 3,000 SGD.
Housings grants for first-time buyers of smaller resalepublic apartments will be increased by 30,000 SGD.
Singaporewill invest 25 billion SGD between 2021 and 2025 for research, innovation andenterprise.
For 2022 as a whole, core inflation averaged 4.1%,higher than the 0.9% recorded in 2021. Meanwhile, headline inflation came in at6.1% last year, up from 2.3% in 2021./.
Prime Minister Pham Minh Chinh and his spouse met with the Vietnamese Embassy's staff and representatives of the Vietnamese community in Singapore on February 8 evening (local time) right after arriving in the island state for a three-day official visit.
Prime Minister Pham Minh Chinh, now on an official visit to Singapore, held talks with his host counterpart Lee Hsien Loong following an official welcome ceremony chaired by the latter on February 9.
Prime Minister Pham Minh Chinh’s official visit to Singapore from February 8-10 has contributed to promoting bilateral relations, particularly economic cooperation, Dr. Pham Duc Minh from the Singaporean Government’s Agency for Science, Technology and Research has said, given the complicated developments of the world situation.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Deputy Prime Minister and Finance Minister Lawrence Wong arrives at Parliament House for the 2023 Singapore Budget on Feb 14, 2023. (Photo: CNA/VNA)
