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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Singapore minister says reserves not for welfare

Posted on 02 February 2009

From Reuters: A senior Singapore politician said on Sunday the government would dip into the country’s reserves only in times of crisis and not use them to support welfare programmes.

“As a general principle, the government must continue to fund such programmes out of revenues raised in the current term of government, not past reserves,” former Prime Minister Goh Chok Tong said at a community event….. Full Article: Source


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