The Business Times
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SINGAPORE BUDGET 2025

Budget 2025 may run generous deficit of up to S$6.6 billion, after FY2024 surplus: economists

With the Budget roughly balanced over the first three years of the government term, FY2024’s surplus will create fiscal room for FY2025

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Renald Yeo

Renald Yeo

Published Fri, Feb 14, 2025 · 02:52 PM
    • Singapore's government must run a balanced Budget over its entire term. The current term of government runs from FY2021 to FY2025.
    • Singapore's government must run a balanced Budget over its entire term. The current term of government runs from FY2021 to FY2025. PHOTO: BT FILE

    SINGAPORE should have the fiscal room for a generous deficit in Budget 2025 – the final Budget of the government’s term – thanks to an expected “bumper” surplus for the 2024 financial year, said economists.

    At least six banks have released estimates for the 2025 Budget deficit, ranging from S$3 billion to S$6.6 billion.

    Under the Constitution, Singapore’s government must maintain a balanced Budget over its entire term. The current term began after the 2020 general election (GE) and runs from FY2021 to FY2025.

    Singapore Budget 2025Singapore economyfiscal policyGE2025

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