Singapore expects a small overall budget deficit of $300 million, or 0.1% of gross domestic product, for the financial year ending March 2011, Finance Minister Tharman Shanmugaratnam said on Friday.
He also said in a budget speech that government will put back into past reserves $4 billion that it had withdrawn earlier.
Tharman last year projected the government would report a basic deficit of $7.2 billion, equivalent to about 2.6% of the city-state's gross domestic product, and an overall budget deficit of $3 billion.
His forecast at that time was for GDP to grow by 4.5 to 6.5%.
Singapore’s economy expanded by 14.5% last year, the fastest in the world after Qatar.
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