Government May Have Budget Deficit Next Year After Using 52 Billion In Reserve to Fight Thru Current Pandemic
In an interview with Bloomberg and the Innovation Economic Forum, Premier Lee Hsien Loong said that the economic downturn, coupled with the need to allocate funds to fight the COVID-19 pandemic, will make it difficult to achieve a budget surplus even if a balanced budget is formulated.
The Prime Minister pointed out that the government must maintain stable economic development so that people can have jobs as much as possible. If there is no job, some assistance should be provided to help them tide over this difficult period.
He believes that it may take some time before our country can restore a carefully balanced budget. In response to the COVID-19 epidemic, my country has used a total of 52 billion yuan in national reserves.
