Singapore's 2018 Budget

On the first working day after the Lunar New Year, the long-awaited Singapore 2018 Budget was announced! For us it can be described as a joyous occasion!

The good news is that Singapore’s GDP last year rose to 3.6%, the Wage Credit Scheme (WCS) will be extended; Support for Education and Health Care Spending will be increased.

The worry is that between 2021 and 2025, the GST will increase from 7% to 9%, the tobacco tax has risen 10%, and the stamp duty on buyers for purchase of more than $1 million of property increase from 3% to 4%

In the 2018 Budget released by Singapore's Finance Minister Heng Swee Keat, it is clear that one of the major expenditures from 2021 to 2030 will come from the health care sector, doubling from $3.9 billion in 2011 to an estimated $10.2 billion in 2018.

The average annual Government healthcare subsidies received by an elderly person is more than six times that of a younger person, or about $4,500 more. By 2030, the total number of elderly will increase by about 450,000, to 900,000.

Finance Minister Heng Swee Keat said that over the next five years, we will build six more general and community hospitals, four new polyclinics, and more nursing homes and eldercare centres. The average annual healthcare spending to rise from 2.2% of GDP today to almost 3% of GDP over the next decade, or about 3.6 billion dollars. Within the next decade, healthcare spending is expected to overtake education.

Singapore's Nature's Farm Big Health Industry includes:

1.    Health Products, that is, our supplement and nutrition products

2.    a Health Data Management Platform, through our medical wearable devices, in the future and medical institutions to carry out data management of chronic diseases, prevent disease and reduce medical expenses

3.  a Health Service Platform, we hope to find partners in 2018 to set up our own Nature's Farm's Healthcare Center

Nature's Farm's planned layout in the big health industry is in line with health sector and industry trends as well as Singapore's national conditions, our long-term development strategy and government planning coincide!

Finance Minister Heng Swee Keat finally said that the 2018 budget will lay the foundation for the development of Singapore in the coming decade.

Nature's Farm will also be guided by the national policy and take "natural health and healthy service" as its purpose and work together to build a better future together!