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Revisions

Singapore to bite the GST bullet to ensure fiscal sustainability: DBS

Singapore economy

Singapore to bite the GST bullet to ensure fiscal sustainability: DBS

PC Lee Published on Tue, Nov 28, 2017 / 3:02 PM GMT+8

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SINGAPORE (Nov 28): Chances are high that the Goods & Services Tax (GST) will be raised in Budget 2018, says DBS.

In fact, hiking the GST is not a matter of whether or when, but how and how much, according to Finance Minister Heng Swee Keat.

“We expect the GST to be raised by 2 percentage points in the forthcoming Budget 2018 to alleviate the widening primary and basic deficits,” says Irvin Seah, DBS’ senior economist in a Tuesday report.

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