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2021 Budget Singapore: A Comprehensive Overview

Introduction

Singapore's 2021 budget, announced on February 16, 2021, has garnered much attention amidst the ongoing COVID-19 pandemic. The S$102 billion budget focuses on bolstering economic recovery, enhancing social support, and safeguarding public health. This article provides a comprehensive overview of the key measures announced in the 2021 budget.

Economic Recovery

Job Creation and Skills Development

S$11 billion allocated for job creation and training programs
Extension of Jobs Support Scheme to September 2021
S$200 million to support mid-career professionals

Support for Businesses

S$5 billion Productivity Solutions Grant
Extension of COVID-19 support measures for businesses
S$150 million to enhance digital capabilities of businesses

Social Support

Healthcare and Well-being

2021 budget singapore

S$17.6 billion for healthcare expenditure
Increase in funding for mental health services
S$3.6 billion for the Community Care Fund

Education and Family Support

S$2.5 billion for early childhood education
Increase in childcare subsidies
S$80 million for family support programs

Vulnerable Groups

2021 Budget Singapore: A Comprehensive Overview

Introduction

S$3.8 billion for social service programs
Expansion of Silver Support Scheme
S$400 million for Workfare Scheme

Public Health

COVID-19 Vaccination and Testing

S$1 billion for COVID-19 vaccination program
S$650 million for COVID-19 testing and tracing

Healthcare Infrastructure

S$800 million to enhance hospital capacity
S$500 million to expand community health services

Other Key Measures

Climate Change and Sustainability

S$1 billion for Green Plan 2030
S$250 million for energy efficiency measures

Technology and Innovation

Job Creation and Skills Development

S$500 million for AI and robotics research
S$100 million for blockchain and data analytics innovation

Tables

Table 1: Key Economic Indicators

Indicator	2021 Budget Allocation
Gross Domestic Product (GDP) Growth	4%-6%
Unemployment Rate	2.7%
Inflation	0.5%-1.5%

Table 2: Social Support Measures

Measure	Funding
Community Care Fund	S$3.6 billion
Family Support Programs	S$80 million
Silver Support Scheme	Expansion
Workfare Scheme	S$400 million

Table 3: Public Health Measures

Measure	Funding
COVID-19 Vaccination Program	S$1 billion
COVID-19 Testing and Tracing	S$650 million
Hospital Capacity Enhancement	S$800 million
Community Health Services Expansion	S$500 million

Table 4: Climate Change and Innovation Measures

Measure	Funding
Green Plan 2030	S$1 billion
Energy Efficiency Measures	S$250 million
AI and Robotics Research	S$500 million
Blockchain and Data Analytics Innovation	S$100 million

Conclusion

Singapore's 2021 budget provides a comprehensive response to the challenges and opportunities posed by the COVID-19 pandemic. The measures announced aim to support economic recovery, enhance social support, and safeguard public health. By implementing these measures, Singapore aims to emerge stronger from the pandemic and build a more resilient and prosperous future for its citizens.

FAQs

1. What is the overall size of the 2021 budget?
S$102 billion

2. What percentage of the budget is allocated to economic recovery?
Approximately 50%

3. What are the key social support programs included in the budget?
Community Care Fund, family support programs, Silver Support Scheme, and Workfare Scheme

4. What is the government's target for GDP growth in 2021?
4%-6%

5. How much funding is allocated for COVID-19 vaccination?
S$1 billion

6. What is the unemployment rate targeted by the government?
2.7%

7. What new initiatives are included in the budget for climate change and sustainability?
Green Plan 2030 and energy efficiency measures

8. What is the government's investment in technology and innovation?
S$600 million for AI, robotics, blockchain, and data analytics research