Singapore Budget deficit of S$3.5 billion expected for FY19
But economists are not surprised, and say the current term of govt can easily afford to spend more
Singapore
A LARGER budget deficit of S$3.48 billion is expected for FY19, with expenditure expected to increase, Minister for Finance Heng Swee Keat announced on Monday.
Despite being the biggest deficit in dollar terms since FY15's S$4.05 billion, the FY19 deficit amounting to 0.7 per cent of gross domestic product (GDP) did not surprise economists. Standard Chartered Bank's Asia economist Jonathan Koh said that the current term of government can easily afford to spend more, having accumulated a surplus of S$17.9 billion over the past three financial years.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Israel concerned over possible ICC arrest warrants related to Gaza war
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
G7 reaches deal to exit from coal by 2035
US, Britain urge Hamas to accept Israeli truce proposal
Saudi Arabia says economic revamp momentum intact as plans shift
German inflation creeps up to 2.4% in April