The reserves are a "great source of comfort and reassurance" should Singapore run into a tight spot, said Prime Minister Lee Hsien Loong.The prime minister was speaking to CNA in an interview posted on YouTube today on the country's reserves.
Likening Singapore as a "Garden of Eden state", he said: "You are here, it's marvellous. You may not always feel great, but please be aware this is the Garden of Eden.[embed]https://www.youtube.com/watch?v=BKGU8ekFmRQ[/embed]"I can't answer that question," he said. "It's enough for most circumstances. It's enough to give us substantial support in the Budget every year contributing to the government's revenues.
The government first drew on the country's reserves in 2009 when it took out S$4.9 billion to fund measures to boost the economy during the global financial crisis.on three separate occasions. "Can I predict whether the stock market will go up or go down next year? Will there be a war next year? I do not know. I can make a guess. But bad things can happen. How much will I need? I also do not know."
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