Reserves have allowed Singapore to deal with Covid-19 crisis: DPM Heng
While discussing the ‘Fortitude Budget’ in the parliament, Singapore’s Deputy Prime Minister Heng Swee Keat on Friday said that unlike other countries, Singapore can depend on its national reserves and did not have to borrow or take on debt to fund its coronavirus stimulus packages.The MPs noted that Singapore was fortunate to be able to tap on the savings of past governments, built up since independence, to boost its Covid-19 war chest. But they also asked how long it would take to restore the sum.Vikram Nair (Sembawang GRC) likened the reserves to a "golden goose" to be protected, warning that the more it is drawn on, the less there will be for future generations to depend on.Tin Pei Ling (Macpherson) and Murali Pillai (Bukit Batok), meanwhile, said it has given Singapore a key strategic...