Singapore expects budget surplus of $3.4 billion in FY 2016/17

SINGAPORE – Singapore is likely to record an overall budget surplus of $3.4 billion or 0.8 per cent of gross domestic product in fiscal 2016/17 starting on April 1, Finance Minister Heng Swee Keat said on Thursday.

For fiscal 2015/16, the government is likely to record a deficit of $4.9 billion or 1.2 per cent of GDP, down from a $6.7 billion deficit the government budgeted a year ago, Heng said.