The Malaysian Insider, 19 Oct 2009
SINGAPORE, Oct 19 — Singapore will lift spending from infrastructure to education next year and maintain a similar budget deficit, a sign the export-dependent country fears an economic rebound may not hold without government support.
The government tapped reserves for the first time this year to fund part of a US$13.7 billion (RM46.23 billion) stimulus in January’s budget that was aimed at helping companies and saving jobs during the country’s worst ever recession. “We are spending a lot more next year and the coming years compared to the past. If we take infrastructure alone, we are spending more,” he said, adding spending was also rising on education and healthcare.
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