” We feel the pressures around in Singapore, too, particularly as a smaller and available economy. We import nearly all we consume, after all.
Remember when we first started fighting COVID-19 at the beginning of this decade, according to Mr. Wong, adding that there was “great doubt” because they were unsure of the virus’s mutability, the duration of the pandemic, and the number of new waves of infections Singapore may encounter.
He stated:” Our money were stretched; we had used our previous deposits five times to speak with the President. “
We were unsure whether we would have enough resources to return from COVID, establish employment for our citizens, and take care of our elderly. We had no idea how deep a fiscal tunnel we may have. “
Mr. Wong added that they were aware that they were aware of the rising cost of care each year, mainly given Singapore’s “rapidly ageing population.”
It wasn’t an easy option, he said, but we knew we had to take responsibility.
” That is why we decided to proceed with the GST improve when the business showed signs of stabilization. “
However, Mr. Wong also made note of the fact that the Assurance Package was even introduced to “effectively delay the effects of the GST boost” for most Singaporeans, adding that the item was improved over the years to “further cushion the impact” on the cost of living.
We have added costs to this Resources by easing costs more; including a unique SG60 deal that offers more assistance for every Singaporean, he said.
” We may continue to do what is necessary to support Singaporeans as long as it is needed,” he declared. “