Analysts are expecting an expansionary budget to assuage an ageing population facing economic disruption. What is the money likely to be spent on?

SINGAPORE (Feb 11): Analysts and market watchers are expecting Singapore’s Budget 2019, scheduled to be unveiled on Feb 18, to be clearly aimed at sweetening the ground ahead of a general election that could be called as early as this year.

In fact, the size and nature of expenditures could be an important factor in handicapping the likely election date. According to Fitch Solutions Macro Research, a generous budget could be a sign that elections could be brought forward to 2019. “Should we see fiscal transfers to a large proportion of Singapore citizens surprise aggressively to the upside, this would suggest that [the People’s Action Party] may be looking to call elections in 2019, as it has already shaped up the fourth-generation leadership in 2018,” Fitch Solutions says.

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