Singapore’s Fiscal Stimulus

Singapore’s Fiscal Stimulus

Singapore’s Fiscal Stiumulus 2020**** Singapore is experiencing its worst contraction of GDP since independence. In response to the health and economic crisis, the government has implemented an unprecedented fiscal stimulus that draws heavily on the country’s reserves. It is apparent that the spending focuses on preserving jobs, knowing that Singapore’s Government spending, albeit very large this time round, will not not have significant impact on economic growth given the weak external demand and a small spending multiplier that constrains the effectiveness of expansionary fiscal policy. Click here to read more and Additional Reading in Singstat on Singapore’s 2020 GDP Growth Forecast