"The enhanced enterprise financing scheme, income tax rebates and an extension of SkillsFuture Enterprise Credit to 2025 were announced in Singapore's 2024 budget on Feb. 16.
"This could help local SMEs cope with rising business costs and funding needs and in turn boost their competitiveness, offsetting risks to local banks' risk profile amid global interest rate volatility and slowing growth. The banks' solid asset quality is a bright spot, supporting the safe-haven characteristics of their bonds," notes Rena Kwok, credit analyst, Bloomberg Intelligence.
Read more about Budget 2024 on The Edge Singapore.
