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Singapore News - The 4 per cent floor rate for interest earned on all Special, MediSave and Retirement Account (SMRA) monies has been extended for another year until Dec 31, 2023. In a joint statement on Wednesday, the Housing Board (HDB) and Central Provident Fund (CPF) Board said CPF. Read more at www.tnp.sg
The Straits Times
Published9 hours ago
https://str.sg/3Ubw
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Professor Linda Lim s commentary, Debt is not a dirty word, but. (Aug 3) refers to Singapore s gross debt to gross domestic product ratio of 131 per cent. This number is not a correct reflection of substantive indebtedness.
Forum: Singapore is always prudent with debt, with no net debt straitstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from straitstimes.com Daily Mail and Mail on Sunday newspapers.
Singapore can revive its economic engine and equity markets with Central Provident Fund (CPF) reforms. Tapping CPF cash to induce positive feedback loops between Singapore’s pension assets and capital markets can economically revive the domestic economy and mitigate the risks of income disparity in the post-COVID world.
Successful financial centres like New York City, London and Hong Kong enjoy major economic benefits, generating significant revenue through financial services. In 2018, Hong Kong’s financial services sector accounted for 20% of GDP and 7% of the workforce, compared to 13.9% of GDP and 5% of the workforce in Singapore.
However, Singapore’s strength in wealth management and banking does not meaningfully contribute to the real economy. “Do banking sector and stock market development matter for economic growth?” published in 2019 by Empirical Economics, illustrates how banking sector growth failed to contribute to real economic growth which sustains employment