​[Budget 2021] Experts: The deficit in the new budget is moderate and acceptable

The Budget will continue to be expansionary for financial year 2021, with an expected deficit of $11 billion, or 2.2 per cent of Singapore's gross domestic product. Asst Prof Bao Te from NTU, said that the country’s deficit in response to the pandemic is relatively small compared to some European countries. He said: “The impact of the coronavirus has passed, but perhaps the industries that have been severely affected by the crisis have to fully get back on track. In fact, it will take a relatively long time to slowly achieve this. In such a situation where the economy turns for the better, it is necessary to maintain a certain deficit, which is to help everyone build confidence.

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