Prudence, discipline and fairness have been the hallmarks of fiscal management in Singapore.
However, Covid-19 has massively tipped the budget balance into unprecedented negative territory, with the country registering a record overall deficit of 13.9 per cent of gross domestic product (GDP) last year.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
