Budget 2016: FY2015 Budget expected to record S$4.9b deficit

THE Budget for Financial Year 2015 is expected to record a deficit of S$4.9 billion, or 1.2 per cent of Singapore's gross domestic product (GDP), said Finance Minister Heng Swee Keat in Parliament on Thursday.

This is lower than the deficit of S$6.7 billion (1.7 per cent of GDP) that was budgeted a year ago, said Mr Heng.