Singapore’s 2025 Budget Statement to Be Unveiled on February 18

Singapore’s highly anticipated 2025 Budget statement will be delivered in Parliament on February 18 by Prime Minister and Finance Minister Lawrence Wong, according to an announcement by the Ministry of Finance (MOF) on December 27.

Singaporeans have until January 12 to share their feedback and ideas for Budget 2025 via REACH’s online microsite. In addition, a physical Listening Point will be held on January 16 at One Raffles Place for those who prefer to share their views in person.

The development of the Budget spans an extensive timeline:

1. Initial Planning: Starting at the beginning of the financial year in April, discussions focus on national priorities and financial feasibility.

2. Public Consultation: Feedback is gathered through online and offline channels to shape the final Budget proposals.

3. Parliamentary Presentation: After Cabinet approval, the Budget is presented by the finance minister in February, followed by debates and clarification in Parliament.

4. Legislative Approval: The Supply Bill, detailing government spending, undergoes readings and debates before being passed by Parliament.

5. Presidential Assent: Once the President approves the Supply Bill, it becomes the Supply Act, guiding government expenditures for the upcoming financial year.

As Singaporeans await the Budget announcement, analysts expect it to emphasize bolstering social safety nets and economic resilience. Citizens are encouraged to participate in the public consultations, ensuring their voices contribute to shaping policies that reflect collective priorities.