as the value of its holdings of foreign currency shrunk against the Singapore dollar - kept higher to mitigate rising costs domestically - and due to higher interest expenses on its money market operations.
The Ministry of Finance previously warned that while rising expenditure can be balanced by revenues in the coming years, there is some danger that a This information might prompt you to work towards earning a surplus of least 3 per cent to keep up with inflation, perhaps even another 3 per cent more to maintain the level of disposable income and standard of living.TEMASEK AND GIC INVESTMENT RETURNS NOT TO BE TAKEN FOR GRANTED
NIRC added between 12.1 per cent and 21.3 per cent of total revenue in the budgets of financial year 2009 to 2021. Without this,than they are, and the economy, less globally competitive as a result. There might be concerns that doing so might take away from the needs of today. But back to the household analogy, being restrained with spending goes together with saving and investing for tomorrow.Certainly, maintaining Singapore’s competitiveness is a non-negotiable as, all things being equal, taxation of rising GDP must be the primary route to raising state revenues and ensuring fiscal sustainability.
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