Singapore to unveil budget for 2008 fiscal year on Feb 15

Singapore will announce its national budget for the fiscal year of 2008 on 15 February, in a parliamentary seating.

Analysts say they expect the government to announce measures to help Singaporeans cope with inflation and the higher cost of living.

In December 2007, consumer prices rose 4.4 percent over the previous year, touching a 25-year high in the Republic’s history.

For the whole year, the Department of Statistics said inflation was up 2.1 percent.

It attributed the increase partly to the 2 percentage point hike in the Goods and Services Tax in July.

Health care cost surged 4.1 per cent, accounting for the biggest change to the Consumer Price Index.

However, analysts expect the economy to be on track to reach the government’s growth forecast of 4.5 percent for the year 2008. – CNA/ch

Source : Channel NewsAsia – 28 Jan 2008

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