The Ministry of Finance (MOF) announced on Jan. 1 that Deputy Prime Minister (DPM) and Finance Minister Heng Swee Keat will deliver the 2020 Budget Statement in Parliament on Tuesday (Feb. 18).

Live coverage and updates

There will be live television and radio coverage of the Budget Statement.

In addition, a live webcast of the delivery will be available on the Singapore Budget website.

For real-time updates, you can follow MOF’s Facebook page and Twitter account. The full Budget Statement will be published on the Singapore Budget website after delivery.

Feedback from Singaporeans

Before the Budget is approved by the government, feedback will be sought from Singaporeans.

The ongoing Budget 2020 feedback phase, which began on Dec. 2, 2019, will conclude on Friday (Jan. 10).

Here are the upcoming six feedback sessions:

Feedback can also be submitted via the following avenues:

• Singapore Budget website.
• REACH Budget microsite.
• REACH Singapore Feedback Form.
• REACH Singapore's Facebook and Instagram accounts.

What can be expected from Budget 2020

In his New Year's message, Prime Minister Lee Hsien Loong hinted at what Singaporeans could expect for Budget 2020.

PM Lee said that Budget 2020 will set out to achieve these key objectives:

• Supporting businesses to raise their productivity and build new capabilities.
• Helping workers, especially mid-career PMETs, to retrain, find new jobs, and stay employable.
• Helping households with their cost of living.
• Improving social safety nets that protect, the elderly, and the vulnerable.

Political observers might be keen to pay closer attention to this year's Budget, as it will likely be the last one before Singapore's next General Election.

The next election must be held by April 2021, but it is expected to take place later this year.

Same date as last year

Budget 2020 will be delivered on the same date as last year's Budget Statement, Feb. 18.

The announcement for both Budget Statements were also announced on the same date, on New Year's Day.

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Top image via Getty Images.