Raising taxes and cutting expenditure not ideal solutions to greater demands on Government budget

A looming fiscal gap is likely, but timely measures can not only close the gap but also reap long-term benefits.

Singapore is projected to run annual budget deficits amounting to between $7.5 billion and $15 billion each year from FY2026 to 2030. ST PHOTO: RYAN CHIONG
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How should the Government manage greater demands on the Singapore Budget?

This question has come into sharp focus with the release of the Occasional Paper on Medium-Term Fiscal Projections by the Ministry of Finance last week. The paper points out that Singapore is projected to run annual Budget deficits amounting to between $7.5 billion and $15 billion each year, during the five-year period from FY2026 to FY2030.

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