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However, some experts noted while the budget does look more pro-citizen on the surface the government has not dramatically shifted its stance, which is being traditionally pro-business.
"It's a more distributive budget – it was balanced between corporate and individual stakeholders, they had quite a bit for both sides. The ones asking for help such as the lower income groups and SMEs got most of their wish list," said Selena Ling, head of treasury research and strategy at OCBC Bank, referring to the 3-year transitional support scheme to help corporates cope with the labor market restructuring.
"The fiscal surplus situation last year was better than what was projected so they had room to do more," she added. For fiscal 2012/13, the overall budget surplus is expected to come in at S$3.9 billion - higher than initial estimates - providing scope for the government to step up spending.
(Read More: Singapore: A Wealthy Nation That Can't Afford to Retire)
"Whether it's pro citizen or pro-business – ultimately it's still very much focused on restructuring the economy to increase productivity," said Michael Wan, economist at Credit Suisse.
- http://www.cnbc.com/id/100493883/Singapore_Budget_Is_the_Government_Finally_Listening
"It's a more distributive budget – it was balanced between corporate and individual stakeholders, they had quite a bit for both sides. The ones asking for help such as the lower income groups and SMEs got most of their wish list," said Selena Ling, head of treasury research and strategy at OCBC Bank, referring to the 3-year transitional support scheme to help corporates cope with the labor market restructuring.
"The fiscal surplus situation last year was better than what was projected so they had room to do more," she added. For fiscal 2012/13, the overall budget surplus is expected to come in at S$3.9 billion - higher than initial estimates - providing scope for the government to step up spending.
(Read More: Singapore: A Wealthy Nation That Can't Afford to Retire)
"Whether it's pro citizen or pro-business – ultimately it's still very much focused on restructuring the economy to increase productivity," said Michael Wan, economist at Credit Suisse.
- http://www.cnbc.com/id/100493883/Singapore_Budget_Is_the_Government_Finally_Listening
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