If Gahmen anyhowly use our reserves, we won’t even have money to invest. Don’t even need to think of returns from investment!
Come 16 February, Deputy Prime Minister and Minister for Finance, Mr Lawrence Wong, will be delivering Singapore’s FY2024 Budget.
Ahead of Singapore’s FY2024 Budget, DPM Lawrence Wong and his Ministry officials and investment entities GIC, Monetary Authority of Singapore (MAS) and Temasek had a briefing with President Mr Tharman Shanmugaratnam and the Council of Presidential Advisers where they were briefed about the projected returns from investing Singapore’s reserves.
This is because the GIC, MAS and Temasek all play a key role in the investment of Singapore’s reserves.
In a Facebook post on 8 January, President Tharman said that each year before the government can spend the projected returns from our reserves, the President must first agree with the projections. In case you don’t remember, one of the roles and responsibilities of the president is to safeguard Singapore’s reserves.
Why is this important to Singaporeans?
Because for every $1 that the Gahmen is using to spend in Singapore, almost 20 cents come from our reserves. They are using Singaporeans’ money and contributions. So, they need to be accountable and keep the President informed about where all the money is going into.
Every investment comes with risk, but it also helps to grow our wealth. Arbo why so many people are willing to invest their money, tio bo?
So, this whole system of investing a portion of our reserves is to ensure that every generation of Singaporeans benefits from this contribution from our reserves, including your future children, grandchildren, great-grandchildren, great-great-great great-grandchildren and those who come after them.
Unlike other countries which has rising debts, Singapore still got money that can be used to invest proving that this system working well, “It is for everyone’s good. Today and way into the future,” Singapore’s ninth President added.
So, if you are one of those who will feel sad and bitter and KPKB why Gahmen never give more, more, MORE ang pow in the upcoming budget, just remember that we also need to save for our future generations lah?
