Govt deficit in FY15 narrows to S$4.9b

THE government's budgetary estimates for fiscal year 2015 were almost spot-on, but smaller-than-expected transfers doled out for productivity helped narrow the deficit last year to S$4.88 billion.

A revised account book for fiscal year 2015 was unveiled on Thursday.

Operating revenue dipped 0.2 per cent to S$64.16 billion, while total expenditure inched up by 0.3 per cent to S$68.41 billion.