In an interview with CNA938 on Sept 27, Acting Prime Minister Heng Swee Keat said the government is prepared to take action if needed, after it looks at how the economy pans out by end-2019. He was responding to a question on the Singapore economy, which saw manufacturing output fall 8% year-on-year in August. Mr Heng also spoke about the decision to raise the
Goods and Services Tax (GST) from 7% to 9%. He explained that the hike is to help Singapore cope
with rising medical expenses as the population ages, and there will be a significant offset package.
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Singapore news Singapore economy: Government prepared to take action if needed, says Heng Swee Keat | |
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| News & Politics | Upload TimePublished on 27 Sep 2019 |
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