The lower figure for FY2021 follows lower total expenditure and higher operating revenue. For reference, the total revised expenditure for FY2021 is $98.4 billion, down from the $102.3 billion expected previously.
Singapore’s fiscal deficit for the ongoing FY2021 ending in March is expected to hit $5 billion or 0.9% of Gross Domestic Product (GDP).
The figure has been revised down from the $11 billion deficit expected previously, and is much smaller than the record $51.6 billion deficit registered in FY2020, estimates from the Ministry of Finance (MOF) show.
