Macroeconomic Forecast Singapore

Singapore has announced an aggressive budget for FY2010 (April-March) in order to boost productivity growth over the longer term. Indeed, economic growth over the last decade has been boosted in part by the influx of foreigners and this may not be sustainable. As such we are projecting a budget deficit amounting to 3.9% of GDP for 2010, wider than the deficit of 2.6% for 2009. Despite the considerably wide shortfall, we are not particularly concerned about Singapore's fiscal situation especially since the country has build up a considerable amount of reserves during the economic boom.

To read the full article, please choose one of the following options: