Fiscal deficit totals $74.3b: DPM Heng

This follows after Singapore unveiled the $33b “Fortitude” budget.

Deputy Prime Minister Heng Swee Keat stated that Singapore’s fiscal deficit has will widen to $74.3b, which is said to be equivalent to 15.4% of GDP.

This follows after DPM Heng unveiled the $33b “Fortitude” budget, which has put great emphasis on staff retention, rental relief and digitalisation.

Heng stated that the Fortitude budget already comes from its second draw from their past reserves, sharing that they are proposing another one amounting $31b. This brings to a total drawdown of reseres of nearly aroun $52b, which is 10.7% of GDP.

“Although we see reserves as far from being exhausted, it will leave the government with fewer resources to combat the next downturn. Despite its previously stated emphasis on developing infrastructure and meeting the spending needs of an ageing society over the long term, we expect the government may pursue a tighter fiscal policy stance post-crisis in order to replenish its fiscal buffers,” commented Christian de Guzman, senior vice president of sovereign risk group at Moody's Investors Service.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia