Guardian.co.uk, 18 Nov 2008, Reuters
SINGAPORE, Nov 18 (Reuters) - Singapore's budget deficit will be much larger in the current fiscal year as the government spend more to help shield the economy from a global downturn that has already pushed the trade-reliant island into recession.
Finance Minister Tharman Shanmugaratnam told parliament on Tuesday the deficit will possibly be more than three times bigger than the estimated S$800 million ($527 million), which analysts said could translate into tax cuts for individuals and companies.
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