Cutting Budget deficit while sustaining positive fiscal impulse a knotty endeavour
Downturn has curtailed tax revenue; planned GST hike will not take place in 2021
Singapore
FOLLOWING 2020's fiscal largesse, and marking the start of a new term of government, Budget 2021 is expected to be a more modest affair with a less-dramatic deficit.
But keeping the deficit small while maintaining a positive fiscal impulse will be tough. The downturn has curtailed tax revenue, and new measures are likely to be off the table, to avoid hurting the nascent recovery.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations
Fed’s preferred core inflation gauge rose at a brisk pace in March
Thames water crisis risks £100 billion UK investment plan
Indian central bank issues draft guidelines for web aggregators of loan products