Revised FY2020 deficit soars to record S$44.3b
Add BT as a preferred sourceSingapore
WITH Monday's round of support measures against the novel coronavirus outbreak, Singapore's overall budget deficit for FY2020 is on track to become the largest deficit since its independence.
The revised overall budget deficit is expected to be S$44.3 billion or 8.9 per cent of gross domestic product (GDP), more than four times the deficit of S$10.9 billion estimated in February. This follows two rounds of support measures announced on March 26 and Monday, with numerous support schemes and waivers to counter the outbreak's economic impact.
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Taiwan’s wealthy seeks diversification to Singapore, sparking private banking race: Bloomberg
Serenity Park condo owners lower asking price to S$440 million in second shot at collective sale
SGX to roll out post-trade custody model, changes to bid mechanics in July, cut board lots in October
