By Fiona Chan

IN FIVE days, the Government will unveil its keenly anticipated Budget 2009, a month earlier than usual, thanks to the downward spiral of the economy.

Expectations are running high for it to be packed with recession goodies, with economists predicting a spending package to end them all.

All signs point to an extraordinary Budget this year: The annual session has been brought forward, as each week brings more signs that Singapore may be entering the most severe downturn in its history. Businesses are fighting for survival, not just for the next three to six months but possibly over the next few years.

Rumblings have also surfaced of an upcoming General Election, which implies that this Budget could be an exceptionally bountiful one. No one definitely expects an election this year, but political watchers have said that they would not be surprised.

Economists estimate that the stimulus measures could lead to a record Budget deficit. But the Government has the firepower: On top of 2007's $6.4 billion Budget surplus bonanza, it is now allowed to tap on an estimated $3 billion to $5 billion of the returns from investing Singapore's reserves.

Countries around the world have already announced their own fiscal boosts, banding together to halt the slide of the global economy.

China leads the region with a four trillion yuan (S$871 billion) plan, which will almost certainly be eclipsed by Mr Barack Obama's trillion-dollar stimulus when he comes into office as President of the United States next week.

In recent months, various ministers have promised that Singapore's own package of aid will keep jobs, help firms stay above water, and put cash in the pockets of those who need it most.

Still, the details that will be revealed on Jan 22 remain shrouded in mystery.

Here's what we know for sure: Firms, especially small ones, will be singled out for help and are likely to receive relief for costs, including wages and rents.

There will also be help for needy households and the middle-income group.

Cuts to the goods and services tax (GST) and employers' contributions to the Central Provident Fund (CPF) have been ruled out. But the Government has said it will help boost the domestic economy by reviving deferred projects and bringing forward new ones in sectors ranging from infrastructure to health care.

But the key questions are still unanswered: Just how big can the Government's spending spree be? What will it comprise? Who will it help - and how?