Singapore Budget 2020: Estimated S$10.9 billion deficit largest since 2009 global financial crisis

The Singapore government is set to spend a record amount of money in 2020. Expenditure is expected to be S$106 billion, 10% higher than in 2019. The Budget deficit is estimated at S$10.9 billion -- the highest since the global financial crisis. The figures are still an estimate and the actual shortfall could be smaller. Singapore has always been cautious with its projections. During the 2009 global financial crisis, it expected an overall deficit of S$8.7 billion, but the actual deficit came in at just S$819 million.

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