18 Feb '11, 4pm

The Singapore government Friday announced a 6.6 billion Singapore dollar (US$5.2 billion) package to enable its...

The Singapore government Friday announced a 6.6 billion Singapore dollar (US$5.2 billion) package to enable its...

The Singapore government Friday announced a 6.6 billion Singapore dollar (US$5.2 billion) package to enable its citizens to overcome inflationary pressures caused by rising commodity prices and wages. "Inflation is a key concern for everyone this year," Finance Minister Tharman Shanmugaratnam said in his budget speech in Parliament. The package includes S$3.2 billion in tax rebates and cuts for households, and S$3.4 billion for long-term social investments. "As a country that imports all we consume, we will always be vulnerable to inflation abroad. This time around, it is mainly food, utilities and other fuel-related charges that are concerning most Singaporeans," Mr. Tharman said. Inflation is a concern around Asia, where soaring commodities prices have stoked broader price pressures and prompted authorities to shift priorities from promoting economic growth to containing...

Full article: http://yoursdp.org/index.php/news/singapore/4609-spore-pl...

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