India’s forex reserves increase by $11.9 billion to hit $534.5 billion

[Dark1]

Nothing is perfect; a AAA rating doesn't mean 0% risk. It just means it's the safest class of debt investment.

And Singapore's financial position remains stronger than many other AAA countries as quoted in my post above.

Read the article you had attached,
"Fitch expects the central government deficit to widen to 15.7% of GDP from 0.3% of GDP in 2019, in line with the authorities' forecast of a deficit of SGD74.3 billion."

So even when savings are being used to finance the deficit, its a negative flow.

Also- "Singapore does not disclose the overall size of its official external assets, notably those of GIC Private Limited, a sovereign wealth fund; GIC states publicly that it manages over USD100 billion of assets, but Fitch believes the size of its external assets is much larger."
So Fitch has no idea about Singapore's sovereign fund and "believes" its more than 100 b usd !!
No wonder the ratings agencies have such low reliability and many companies don't allow them any access.

 

[Mista]

Read the article you had attached,
"Fitch expects the central government deficit to widen to 15.7% of GDP from 0.3% of GDP in 2019, in line with the authorities' forecast of a deficit of SGD74.3 billion."

So even when savings are being used to finance the deficit, its a negative flow.

Also- "Singapore does not disclose the overall size of its official external assets, notably those of GIC Private Limited, a sovereign wealth fund; GIC states publicly that it manages over USD100 billion of assets, but Fitch believes the size of its external assets is much larger."
So Fitch has no idea about Singapore's sovereign fund and "believes" its more than 100 b usd !!
No wonder the ratings agencies have such low reliability and many companies don't allow them any access.

You know nothing and yet you act like you know better than professionals lol. A true keyboard warrior.

Singapore's reserves are managed by 3 entities: MAS, Temasek, GIC. GIC is definitely the largest fund but the sum they invest is not disclosed, for strategic purposes.

Mr Heng, who is also Finance Minister, was summing up the debate on the Supplementary Budget to fund support measures to deal with Covid-19.

Singapore's past reserves comprise assets invested by the Monetary Authority of Singapore (MAS), Temasek Holdings and GIC. While MAS and Temasek disclose the sum of the funds they invest, those invested by GIC are not disclosed.

MAS has about $396 billion in foreign assets, while Temasek's current portfolio is valued at $313 billion, according to latest figures.

Parliament: Size of reserves cannot be disclosed as a matter of national security, says Heng Swee Keat

SINGAPORE - The size of Singapore's reserves are a matter of national security and cannot be disclosed, lest its economic and financial stability be threatened, Deputy Prime Minister Heng Swee Keat said on Tuesday (April 7). Read more at straitstimes.com.

www.straitstimes.com

1:58

The government only discloses that the GIC manages “well over US$100 billion”, but well, professional agencies estimate it well above $100 billion.

The Sovereign Wealth Fund Institute (SWFI) had estimated the fund's assets at US$453 billion.

Sovereign Wealth Fund Institute - SWFI

Where institutional investors and companies get their research and stay on top of actionable news.

www.swfinstitute.org

Under Singapore's constitution, the Singapore government can spend up to 50% of real investment returns from our reserves. Just 50% of the investment return makes up the largest source of our revenue today, larger than GST or the income tax.

Bloomberg - Are you a robot?

www.bloomberg.com

Other countries pay interests on their debt, Singapore makes returns from our past savings. That's one major reason why Singapore can have competitive tax rates. We're not HK without military spending and with backing from mainland China.

Without the reserves, you think these investment returns drop from the sky? Lol. You think those professional agencies are as ignorant as you and do not take into account all available information and scrutinize them?

What are you arguing about in the first place anyway? Singapore's reserves are fake? Those rating agencies are inaccurate and you're smarter than them? India is better?

 

[Dark1]

You know nothing and yet you act like you know better than professionals lol. A true keyboard warrior.

Singapore's reserves are managed by 3 entities: MAS, Temasek, GIC. GIC is definitely the largest fund but the sum they invest is not disclosed, for strategic purposes.

Parliament: Size of reserves cannot be disclosed as a matter of national security, says Heng Swee Keat

SINGAPORE - The size of Singapore's reserves are a matter of national security and cannot be disclosed, lest its economic and financial stability be threatened, Deputy Prime Minister Heng Swee Keat said on Tuesday (April 7). Read more at straitstimes.com.

www.straitstimes.com

1:58

The government only discloses that the GIC manages “well over US$100 billion”, but well, professional agencies estimate it well above $100 billion.

Sovereign Wealth Fund Institute - SWFI

Where institutional investors and companies get their research and stay on top of actionable news.

www.swfinstitute.org

Under Singapore's constitution, the Singapore government can spend up to 50% of real investment returns from our reserves. Just 50% of the investment return makes up the largest source of our revenue today, larger than GST or the income tax.

View attachment 663261

View attachment 663262

Bloomberg - Are you a robot?

www.bloomberg.com

Other countries pay interests on their debt, Singapore makes returns from our past savings. That's one major reason why Singapore can have competitive tax rates. We're not HK without military spending and with backing from mainland China.

Without the reserves, you think these investment returns drop from the sky? Lol. You think those professional agencies are as ignorant as you and do not take into account all available information and scrutinize them?

What are you arguing about in the first place anyway? Singapore's reserves are fake? Those rating agencies are inaccurate and you're smarter than them? India is better?

Wow so defensive. You sound more Chinese than Singaporean. A small ripple in your little world and you lose your balance.
In my limited experience, people with confidence are never so touchy.
My reference was to the rating agencies, which have many cases of companies going bust with AA and AAA ratings. Does not mean all will , just that their systems are not as robust as you would have us believe.
Singapore is not the most transparent of countries, who knows what the state of their economy really is.

Bloomberg - Are you a robot?

www.google.com

"Singapore’s economy plunged into recession last quarter as an extended lockdown shuttered businesses and decimated retail spending, a sign of the pain the pandemic is wreaking across export-reliant Asian nations.

Gross domestic product declined an annualized 41.2% from the previous three months, the Ministry of Trade and Industry said in a statement Tuesday, the biggest quarterly contraction on record and worse than the Bloomberg survey median of a 35.9% drop. Compared with a year earlier, GDP fell 12.6% in the second quarter, versus a survey median of -10.5%."

The experts don't seem to agree with your rosy picture of the economy.

 

[Mista]

Wow so defensive. You sound more Chinese than Singaporean. A small ripple in your little world and you lose your balance.
In my limited experience, people with confidence are never so touchy.
My reference was to the rating agencies, which have many cases of companies going bust with AA and AAA ratings. Does not mean all will , just that their systems are not as robust as you would have us believe.
Singapore is not the most transparent of countries, who knows what the state of their economy really is.

Bloomberg - Are you a robot?

www.google.com

"Singapore’s economy plunged into recession last quarter as an extended lockdown shuttered businesses and decimated retail spending, a sign of the pain the pandemic is wreaking across export-reliant Asian nations.

Gross domestic product declined an annualized 41.2% from the previous three months, the Ministry of Trade and Industry said in a statement Tuesday, the biggest quarterly contraction on record and worse than the Bloomberg survey median of a 35.9% drop. Compared with a year earlier, GDP fell 12.6% in the second quarter, versus a survey median of -10.5%."

The experts don't seem to agree with your rosy picture of the economy.

Where did I say it's rosy? It's the worst recession we've so far, and the contraction in Q2 was largely due to a lockdown.

And yet even with falling global demand, tourists falling to virtually zero, nationwide lockdown as we're a city-state, Singapore's full year recession is expected to be only around -4% to -7%.

The Ministry of Trade and Industry (MTI) expects Singapore's GDP to shrink by between 4 per cent and 7 per cent this year. So far, there is no official forecast for 2021.

Singapore likely to rebound from recession, achieve 7 per cent GDP growth in 2021: Report

Singapore's recovery will start to take shape in the second half of 2020, aided by the manufacturing and financial services sectors, said an economist. Read more at straitstimes.com.

www.straitstimes.com

The overall unemployment rate rose to 2.9 per cent from 2.4 per cent in the preceding quarter, while total employment (excluding foreign domestic workers) plunged more than four-fold, preliminary data from the Ministry of Manpower (MOM) on Wednesday (Jul 29) showed.

"However, unemployment rates remained lower than previous recessionary peaks during the global financial crisis and SARS," MOM added.

Overall unemployment rate hit 3.3 per cent in the third quarter of 2009, during the global financial crisis, and 4.8 per cent in the third quarter of 2003, amid the severe acute respiratory syndrome (SARS) outbreak.

Resident unemployment rate – Singaporeans and permanent residents – rose to 3.9 per cent in the second quarter from 3.3 per cent in the preceding quarter, while the unemployment rate of Singaporeans increased from 3.5 per cent to 4 per cent.

Singapore jobless rate hits 2.9%, highest in more than a decade; retrenchments double

SINGAPORE: Singapore's overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more than doubled and total employment declined amid the COVID-19 pandemic.The overall unemployment rate rose to 2.9 per cent from

www.channelnewsasia.com

Even with the worst recession in history, our per-capita GDP and unemployment rate still remains better than most Western developed countries pre-covid. Let's not compare to India.

Yet you talk as if Singapore's economic fundamentals are fake, even though I didn't reply to you in the first place lmao.