Budget 2023: Expected Budget deficit of $0.4 billion for 2023, says DPM Wong – The Straits Times

February 14, 2023

Tham Yuen-C

14 February 2023

SINGAPORE – A budget deficit of about $0.4 billion, or 0.1 per cent of gross domestic product, is expected for financial year (FY) 2023, said Deputy Prime Minister and Finance Minister Lawrence Wong on Tuesday.

This will bring the Government into deficit for two years in a row, with a deficit of $2 billion, or up to 0.3 per cent of GDP, expected for FY2022.

Mr Wong outlined these numbers as he spoke about Singapore’s fiscal position in his Budget statement.

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