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BUDGET 2015

FY14 shortfall smaller than projected at 0.03% of GDP

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Private-sector economists were generally expecting the smaller deficit and some were even banking on a surplus, which failed to materialise.

THE government has unveiled a smaller-than-estimated Budget deficit of S$0.13 billion for fiscal year 2014, versus a projected S$1.16 billion deficit, thanks in part to higher operating revenue and larger net investment returns contribution (NIRC).

Private-sector economists were generally

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