Government not ruling out further draw on past reserves: DPM Heng
But in the medium to longer term, the approach is to find new ways to generate growth, such that Singapore can build up its reserves again
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Janice Heng
Singapore
IF A further draw on past reserves is needed for Covid-19 support, the government is prepared to propose it, said Deputy Prime Minister and Finance Minister Heng Swee Keat in Parliament on Thursday.
And while Singapore's fiscal situation will get tighter, the government maintains its stance of funding recurrent spending out of recurrent revenues - which means that the goods and services tax (GST) hike cannot be deferred indefinitely.
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