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Singapore likely to run deficit for third year due to Covid

Bloomberg
Bloomberg2/16/2021 8:24 AM GMT+08  • 5 min read
Singapore likely to run deficit for third year due to Covid
Singapore’s budget today is expected to offer more targeted measures to support the economy’s recovery.
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Singapore’s budget on Feb 16 is expected to offer more targeted measures to support the economy’s recovery from its worst year since independence, setting up a third straight budget deficit for the traditionally fiscally conservative city-state.


See: 'Emerging Stronger Budget' to give more support to businesses and households

While the nation appears past the worst of the pandemic and its spending shortfall is narrowing, industries including food and beverage and those associated with travel remain crushed by mobility restrictions. Firms are also still grappling with restructuring staffs and supply chains.

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