Singapore budget deficit could give others cover, Malaysia says

SINGAPORE: With Singapore expected to announce a rare budget deficit as it responds to coronavirus-related concerns, financial markets are likely to be more lenient on other countries in the region veering away from fiscal targets, according to Malaysia’s deputy trade minister.

"In a context where a lot of countries in the region are announcing stimulus packages, and Singapore will probably have its first budget deficit since the crisis, so first time in over 10 years, I think the market would be more willing to accept any deviations in the expected budget deficit,” Ong Kian Ming said in an interview Monday in Singapore.