Singapore’s government expects an overall budget deficit of 0.1 percent of gross domestic product for the coming fiscal year, Finance Minister Heng Swee Keat told parliament on Monday.
The overall budget deficit for the 2018/19 fiscal year starting on April 1 is expected to be S$0.6 billion, Heng said.
For the 2017/18 fiscal year, the government expects an overall budget surplus of S$9.6 billion or 2.1 percent of GDP, larger than the forecast made a year earlier for a surplus of S$1.9 billion or 0.4 percent of GDP, he added.
The budget statement comes after Singapore’s trade-reliant economy recorded full-year growth of 3.6 percent in 2017, the highest in three years.
The following are some highlights of Singapore‘s budget proposals for the fiscal year that
begins April 1.
