Singapore expects to post a slimmer budget deficit in the fiscal year ending March, as it narrowed aid to insulate only the most vulnerable households from inflation.
(Bloomberg) — Singapore expects to post a slimmer budget deficit in the fiscal year ending March, as it narrowed aid to insulate only the most vulnerable households from inflation.
The government is expecting a budget deficit of 0.3% of gross domestic product in the current fiscal period, Deputy Prime Minister Lawrence Wong said in his budget speech to Parliament Tuesday. That’s narrower than the 0.5% initial projection.
Only three of 13 analysts surveyed by Bloomberg had seen the government ending the current fiscal year with a shortfall, with nine seeing a surplus and one a balanced budget.
–With assistance from Michelle Jamrisko.
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