Wow....Singapore Miracle really good , SG can becum world bank?
- Thread starter k1976
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https://www.asiamediacentre.org.nz/...ores-fiscal-prudence-lessons-for-new-zealand/
New Zealand need to learn for us de woh
New Zealand need to learn for us de woh
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A couple of weeks ago, Singapore’s Finance Minister Lawrence Wong announced the 2024 Budget. As with other countries, immediate social spending and investment was prioritised as a response to the ongoing cost-of-living crisis and challenges relevant to long-term productivity and population ageing.
However, there is a stark contrast between the city-state and other major developed economies. Singapore has net zero debt, and it has already solved the long-term fiscal issues facing other countries.
Singapore's government gross debt level is 170% of GDP. But this is offset by high levels of domestic savings in both the public and private sectors. The city-state is a capital exporting country that generates reserves from its large financial assets and public investments.
A large portion of the public sector comprises large government-linked companies – such as SMRT Corporation and Singapore Airlines – and its sovereign wealth funds – including the Government Investment Corporation (GIC) and Temasek Holdings.
GIC has around US$770 billion in assets under management and Temasek has US$290 billion. In combination this is around 270% of Singapore’s GDP.
However, there is a stark contrast between the city-state and other major developed economies. Singapore has net zero debt, and it has already solved the long-term fiscal issues facing other countries.
Singapore's government gross debt level is 170% of GDP. But this is offset by high levels of domestic savings in both the public and private sectors. The city-state is a capital exporting country that generates reserves from its large financial assets and public investments.
A large portion of the public sector comprises large government-linked companies – such as SMRT Corporation and Singapore Airlines – and its sovereign wealth funds – including the Government Investment Corporation (GIC) and Temasek Holdings.
GIC has around US$770 billion in assets under management and Temasek has US$290 billion. In combination this is around 270% of Singapore’s GDP.
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https://www.ft.com/content/0ea2bcc4-1378-4dec-81af-0fb688edda31
Financial Times article on SG good handling of debts de woh
Financial Times article on SG good handling of debts de woh
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https://www.gov.sg/article/the-sing...ce-sheet-with-assets-in-excess-of-liabilities
Some observers have pointed out that Singapore has a high level of debt as a percentage of our Gross Domestic Product (“GDP”). Some may wonder why this is so given that the Government runs a balanced budget, and whether it is fiscally sustainable. We explain why Singapore takes on such debt.
A country’s debt position is commonly measured by its gross debt-to-GDP ratio, which compares a country’s public debt to its economic output. While Singapore’s gross debt-to-GDP ratio may appear large on its own, it does not consider Singapore’s sizeable asset position.
In fact, the Singapore Government has a strong balance sheet with no net debt. Our financial assets are well in excess of our debt. This net asset position is reflected in the net investment returns generated on our reserves, which is made available for Government spending via the Net Investment Returns Contribution. In addition, our strong balance sheet explains why Singapore receives the top credit rating of AAA from the three leading international credit-rating agencies (S&P, Moody’s, and Fitch).
Some observers have pointed out that Singapore has a high level of debt as a percentage of our Gross Domestic Product (“GDP”). Some may wonder why this is so given that the Government runs a balanced budget, and whether it is fiscally sustainable. We explain why Singapore takes on such debt.
A country’s debt position is commonly measured by its gross debt-to-GDP ratio, which compares a country’s public debt to its economic output. While Singapore’s gross debt-to-GDP ratio may appear large on its own, it does not consider Singapore’s sizeable asset position.
In fact, the Singapore Government has a strong balance sheet with no net debt. Our financial assets are well in excess of our debt. This net asset position is reflected in the net investment returns generated on our reserves, which is made available for Government spending via the Net Investment Returns Contribution. In addition, our strong balance sheet explains why Singapore receives the top credit rating of AAA from the three leading international credit-rating agencies (S&P, Moody’s, and Fitch).
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You mean yusof ishak will be the new benjamin franklin? Malays will be famous?
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Yeah...to make Malayeu bigger than ever
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Lousy angmo new paper. Normal countries borrow from rich investors, Singapore borrow from u! That's y u poor!
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Nation Build8ng mahLousy angmo new paper. Normal countries borrow from rich investors, Singapore borrow from u! That's y u poor!
Now ....want up your retirement age to 70road by 2030 liao. Enjoy
