Part 1/10:
Singapore's Economic Outlook and Budget 2021: A Strategic Path to Recovery and Transformation
A Sharp Reversal from 2020 Contraction
After experiencing significant economic contractions in 2020 due to the COVID-19 pandemic, Singapore is projected to see a robust rebound in 2021, with growth estimates ranging between 4% and 6%. This marked turnaround underscores the effectiveness of the government's targeted stimulus measures and the resilience of Singapore's economy. The pandemic’s shock was unprecedented, prompting a comprehensive fiscal response aimed at cushioning the worst impacts on businesses and employment.