SINGAPORE (Feb 16): Singapore is set to deliver a strong budget this week to offset the damage to the economy from the coronavirus, with analysts predicting the biggest deficit in almost two decades.
The fiscal gap may widen to 1.5% of gross domestic product in the year beginning April 1, the highest since the 1.7% shortfall recorded in the 2001 financial year, according to the median estimate in a Bloomberg survey of economists. This year’s deficit will probably come in at 0.3%, compared to the government’s earlier projection of 0.7%.
