Singapore budget: city state set for US$12 billion surplus as Wong unveils AI ambitions

South China Morning PostEN 1 min read 100% complete by Jean Iau,Kolette LimFebruary 12, 2026 at 09:30 AM

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Singapore projects a significant budget surplus of US$12 billion (1.9% of GDP) for the 2025 financial year, exceeding initial forecasts due to higher corporate income tax and asset-related revenue. Prime Minister Lawrence Wong announced this during his budget speech, outlining ambitious plans for artificial intelligence development. A smaller surplus of US$6.7 billion (1% of GDP) is expected for 2026. To address cost-of-living pressures, each Singaporean household will receive S$500 in vouchers in January, and individual cash payments ranging from S$200 to S$400 will be disbursed in September. Additionally, the tobacco tax, already high, will increase by 20% effective immediately.

Key Entities & Roles

Key Player Opposition Context

Community Development Council 60% Lawrence Wong ×490% Singapore ×4100%

Keywords

singapore budget 100% budget surplus 90% artificial intelligence 70% cost of living 70% tax revenue 60% economic forecast 50% tobacco tax 50% lawrence wong 40%

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Very Positive

Score: 0.80

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South China Morning Post

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90%

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