Budget 2023: Singapore expects second straight deficit, narrowing to S$0.4b in FY23
Budget’s S$10.2 billion basic deficit reflects expansionary stance
Government also plans to reduce size of the Contingencies Funds via a Constitutional amendment
THE Budget for the 2023 financial year is expected to run Singapore’s second consecutive deficit as the government shifts from dealing with the pandemic to addressing concerns about the cost of living and global uncertainties.
It also marks the sixth planned deficit in consecutive years – with the last planned surplus being in FY2017.
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