SINGAPORE, April 24 -- Deputy Prime Minister Heng Swee Keat is stepping away from politics, closing a significant chapter in Singapore's leadership story.

Heng, 64, was not listed in any constituency on Nomination Day, April 23, confirming he will not stand in the 2025 General Election.

"I believe now is the right time to make way for a new team of capable individuals who are well placed to serve Singapore," he said in a Facebook post.

The former finance minister was known for steering Singapore through the Covid-19 pandemic and for launching five national budgets in 2020 alone to protect jobs and support businesses.

Culture, Community and Youth Minister Edwin Tong will now take the helm in East Coast GRC, where Heng previously served...