How will Singapore's Budget 2023 address rising costs?

Price pressures: A worker is seen at a retail warehouse in Singapore. The increase in the GST rate in the country from 7% to 9% will further add to inflation that is at its highest in well over two decades. — Bloomberg

SINGAPORE: Given that Budget 2023 falls on Valentine’s Day, Singaporeans can be forgiven for hoping for some love from the government as they wrestle with the impact of rising prices, increasing healthcare needs, a widening wealth gap and greater uncertainty in an age of rapid digitalisation.

After three consecutive generous budgets, Finance Minister Lawrence Wong will have to craft a post-pandemic budget for an economic environment where the only certainty seems to be elevated costs and global economic uncertainty.