Strong foreign exchange reserves kept us from starvation: Lee Kuan Yew
Is there a reason Singapore holds reserves? The reserves of Singapore serve three purposes: To provide a buffer against crises; Provide a stream of investment income to finance a part of government budgets; Maintaining confidence in Singapore’s exchange rate-based monetary policy. A reserve is therefore a rainy day fund, an endowment fund, and a stabilization […]
Singapore and Australia sign Digital economy Agreement
The Signing of the Singapore-Australia Digital Economy Agreement (SADEA) on August 6 2020, marks a milestone in the long-standing and multi-faceted partnership between Singapore and Australia. It will allow our companies to take advantage of opportunities in the digital economy and tap on new technologies to create new digital products and services, Trade & Industry […]
Singapore’s economy set for a strong recovery next year, GDP to grow by 7%
Singapore’s economy is set for a strong recovery next year after a deeper-than-expected slump amid the coronavirus pandemic. According to a report by the ASEAN+3 Macroeconomic Research Office (AMRO), Singapore’s economy is expected to recover strongly next year with GDP expected to grow by 7% after shrinking 6% this year. The GDP growth forecast for this […]