Singapore Budget 2015: Overall Budget Balance for FY2015 projected at a deficit of $6.7b

Singapore Budget 2015: Overall Budget Balance for FY2015 projected at a deficit of $6.7b

Singapore's overall budget balance for fiscal year 2015 is projected to be a deficit of S$6.7 billion, or 1.7 per cent of gross domestic product (GDP), Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam told Parliament on Monday.

In his Budget Statement, Mr Tharman said the deficit comes about mainly because of the S$6 billion the government is setting aside for future investments. In particular, S$3 billion into the Changi Airport Development Fund, and significant top-ups for the Special Employment Credit Fund, National Productivity Fund, and the National Research Fund.

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