The Business Times
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Singapore's fiscal position strong amid further deficit, reserve draw

Overall budget deficit for FY2020 will increase to S$74.3 billion, or 15.4% of GDP

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Published Tue, May 26, 2020 · 09:50 PM
    Largest deficit since independence

    Singapore

    AS Singapore incurs a deficit of an unprecedented size and a second draw on its past reserves this financial year, they are necessary to pave the way for recovery and for the economy to emerge stronger.

    While the amounts are huge, the country's fiscal position is not threatened given its massive reserves, analysts say.

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