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
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons