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Singapore Budget 2026 News Alert
The Singapore economy grew by a strong 5% in financial year (FY) 2025, significantly higher than the 1% to 3% range forecast during Budget 2025. The gross domestic product (GDP) growth came from strong external demand in key industry clusters, including electronics and biomedical manufacturing.
In Budget 2026, the measures proposed are focused on helping businesses stay competitive, harnessing artificial intelligence (AI) as a strategic advantage, building a resilient and skilled workforce and giving more support to families.
Prime Minister and Minister for Finance Lawrence Wong has reaffirmed that Singapore will proceed with the implementation of the top-up tax under Pillar Two of the Base Erosion and Profit Shifting global initiative. Higher corporate tax collections are expected from FY 2027 onwards.