Budget 2019: Building a 'strong, united Singapore'; Merdeka Generation Package, healthcare take spotlight
The foreign worker quota for the services sector will also be tightened from 2020, says Finance Minister Heng Swee Keat in this year’s Budget speech.
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Ricky Lim
For FY2019, he said the Government’s position remains expansionary with a basic deficit of S$7.1 billion and, on the whole, expecting an overall budget deficit of S$3.5 billion, or 0.7 per cent of GDP
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We have a budget surplus of S$9.6 billion in FY2018 and in FY2019 we have a budget deficit of S$3.5 billion (finance by NIRC - Net Return Investment Income reducing the deficit from S$7.1 billion) ---
This means we still have a budget surplus if we take 2 years fiscal budget = S$9.6 billion - S$3.5 billion = S$6.1 billion.
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We have a budget surplus of S$9.6 billion in FY2018 and in FY2019 we have a budget deficit of S$3.5 billion (finance by NIRC - Net Return Investment Income reducing the deficit from S$7.1 billion) ---
This means we still have a budget surplus if we take 2 years fiscal budget = S$9.6 billion - S$3.5 billion = S$6.1 billion.
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