Smaller deficit of S$1.65b for FY2019

Singapore

SINGAPORE is expected to register a budget deficit of S$1.65 billion for FY19, equal to 0.3 per cent of gross domestic product (GDP).

The deficit is significantly lower than the S$3.48 billion deficit estimated a year ago, which would have been the largest since 2015.

The smaller deficit was due to lower-than-expected military and transport spending.

The Ministry of Defence has estimated that it spent S$14.62 billion…

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