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NEWS UPDATES Asean Affairs   March 2, 2018  







Low inflation is 'ammunition' to resist Fed rate hike: OJK

Low and stable inflation is seen as an asset for Indonesia to resist the Federal Reserve's plan to increase its reference rate four times

Budget 2018 passed in Parliament, with 8 Workers' Party MPs voting against it

The Government’s plans to secure Singapore’s future cannot be funded on the basis of “episodic windfalls”, says Finance Minister Heng Swee Keat.

Budget 2018 was passed in Parliament on Thursday (Mar 1), with 89 Members of Parliament (MPs) voting for it, and eight MPs from the Workers’ Party (WP) voting against it. WP chief Low Thia Khiang was not present for the vote.

In his speech wrapping up the Budget debate in Parliament, Finance Minister Heng Swee Keat addressed issues and concerns on the Budget raised by MPs over two and a half days.

Noting that some had asked if the Government’s increased spending for the future could be funded with a "windfall surplus", like the S$9.6 billion one in FY2017, he said the Government's plans to secure Singapore's future cannot be funded on the basis of "episodic windfalls".

He pointed out that the FY2017 surplus was largely due to “one-off, exceptional factors” that the Government does not expect to occur every year.

“If we are fortunate to have these occasional windfalls, we should do the responsible thing and save most of it for future needs,” he said. “We should not plan for our future in the hope that markets will always continue to move in Singapore’s favour.”

He explained that this is why the bulk of the FY2017 surplus will be reserved for future needs like the MRT development plans and ElderShield subsidies.


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  Today's  Stories                       March 2, 2018 
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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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