FY20 Budget gears up to spend big with S$10.9b deficit

Singapore

THE expected overall budget deficit of S$10.9 billion for FY2020 is the highest in more than two decades, but economists say the budget plans outlined by the government on Tuesday are a sure sign of long-term prudent spending and fiscal resilience.

The projected FY2020 deficit, which represents 2.1 per cent of gross domestic product (GDP), is the highest expected deficit in dollar terms since FY199…

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