Economy
Electronics sector loses momentum as NODX slips in January: expert
Electronics sector loses momentum as NODX slips in January: expert
NODX contracted by -3.3% MoM in January, marking the first decline after two months of growth.
Singapore’s 2025 growth forecast cut to 2.6% amidst trade headwinds
It also revised down the 3-month Singapore Overnight Rate Average (SORA) forecast to 2.55% by the end of 2025.
LIVE UPDATES: Singapore Budget 2025
PM Wong says the 2025 Budget advances ForwardSG plans.
What Budget 2025 should focus on
Experts cited three main sectors that this year’s fiscal plan should fuel.
Singapore NODX down 2.1% in January 2025
This was driven by a fall in non-electronics.
Steady growth seen in 2025 driven by manufacturing
RHB has kept its GDP growth forecast at 3.0%, whilst UOB expects growth to come in slightly lower at 2.5%.
Half of businesses seek aid amidst inflation and digital push
Budget initiatives are seen vital in managing costs and boosting productivity.
Over 4 in 5 businesses seek government support
The majority of those in the health sector have applied or are interested.
Singapore economy up 4.4% in 2024
It was driven by the wholesale trade and finance & insurance sectors.
Singapore NODX up 2% in 2024
Non-electronic exports fell.
Household employment income rose 1.4% in 2024
Median monthly household employment income went over $11k in 2024.
4 areas Budget 2025 will likely prioritise
There will be focus on upskilling programmes amongst others.
‘Pro-growth’ 2025 budget needed amidst global uncertainty: BofA
This year’s fiscal plan should contrast last year’s neutral stance.
Singapore to unveil ‘expansionary’ budget: analysts
It is expected to shift to a fiscal deficit of 0.3% of its GDP.
Negative sentiments dominate over one-third of money talks amongst Singaporeans
Younger people are more cautious in discussing financial matters.
What to expect in Singapore’s Budget 2025?
Generous financial support and more measures to improve economic competitiveness.
Gov’t not expecting to be on US direct tariffs ‘hit list’
However, it said Singapore will be impacted indirectly if there is any friction.
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