Singaporeans benefit today from having strong reserves, Sing$

Singaporeans benefit today from having strong reserves, Sing$

The Independent·2018-02-25 21:10

Minister in the Prime Minister's Office Chan Chun Sing (centre) and MP for Tanjong Pagar GRC Chia Shi-Lu (in red) join residents in lo hei at the annual Tanjong Pagar GRC and Radin Mas SMC Lunar New Year Dinner yesterday.ST PHOTO: SEAH KWANG PENG

Seow Bei Yi

Keeping half of Singapore’s earnings from its reserves is important as it signals to currency markets the strength of the Singapore dollar, Minister in the Prime Minister’s Office Chan Chun Sing has said.

Mr Chan cited this as an “important reason” the Government does not spend more than half of returns from past reserves.

Singapore Government Finance