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Singapore Budget 2015: "Very small" deficit of S$0.1 billion expected
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SINGAPORE is expected to have a "very small" deficit of S$0.1 billion for financial year 2014, and this is close to a balanced position, Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said on Monday as he opened his Budget 2015 speech in Parliament.
This amount is lower than the government's earlier estimate a year ago of an overall deficit of S$1.2 billion, or 0.3 per cent of gross domestic product. For FY2013, Singapore recorded an overall surplus of S$3.9 billion, or 1.1 per cent of GDP.