UOB sees deficit of $1.2 bil in FY2019 Budget on moderating domestic economy

SINGAPORE (Jan 30): Singapore is expected to see a small and manageable deficit of $1.2 billion for its FY2019 Budget, which comes off the back of a moderating domestic economy, says UOB.

Taking centrestage at the Feb 18 Budget statement should also be further guidance on revenue drivers for the next decade (2021 to 2030) that would enable Singapore to deal with global economic uncertainties and changing needs of its people.

“Should our budget surplus estimate come to pass in FY2018, Singapore would have seen three consecutive years of surpluses in the current five-year framework. This would suggest a comfortably larger fiscal space into the next two years,” says UOB economist Barnabas Gan in a Wednesday report.

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