Daily Briefing: Singapore finance minister aims a cautious budget; HDB unveils first new-generation neighbourhood centre

And personal finance startup DollarsAndSense acquires insurtech platform fundMyLife.

From Bloomberg:

Singapore Finance Minister Heng Swee Keat plans to have a cautious budget for 2019 whilst prioritising on social spending ahead of the elections.

Whilst not expected to be as headline-grabbing as last year -- when Heng flagged a hike in the goods-and-services tax -- the 2019 budget will cover a range of familiar policy priorities. Infrastructure spending, more healthcare support for a rapidly ageing population, and help for firms transitioning in a digital economy were top-of-mind for Heng in a previous interview with Bloomberg.

The budget deficit could be smaller than projected, thanks to improved tax collection. Economist at Bank of America Merrill Lynch Mohamed Faiz Nagutha sees a shortfall of 0.6 percent of gross domestic product in the primary balance, versus the government’s 1.6 percent estimate.

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