The anti-recessionary program of the government of Singapore.
The anti-recessionary program of the government of Singapore.
Singapore, despite close contacts to the next states,
Captured currency-financial, and now and obshcheekonomicheskim
Crisis, successfully enough overcomes the arisen difficulties. In
Current year the country intends to achieve gross national product gain approximately
On 0,5 - 1,5 % (in 1997 - increase at 7,8 %, in I quarter 1998
- on 5,9 %, in II - only on 1,9 %). Growth is reached the big
The price: the budget for the first time for last decade is reduced with
Deficiency (in 1998/99 it will make 800 million sing. Dollars, then
As it was originally formed counting on data with
Positive balance at a rate of 2,68 billion). Adverse
Tendencies in economy are aggravated with decrease in a course of yen, which
Will negatively affect the foreign trade positions of Singapore.
National currency of this country by the end of II quarter 1998
Has fallen in price: 1 dollars in the Asian markets were quoted at level
1,7160 sing. Dollars (in comparison with 1,5885 in the end of I quarter). To
Positive factors should carry absence at Singapore
External debts, presence of large currency reserves (80
Bln. dollars), stability of bank system.
"Safety net" for national economy is recently
The accepted governmental anti-recessionary program, which
It is aimed at support of the most vulnerable sectors. Provided
Measures should give the total economic benefit estimated in
2,04 billion sing. Dollars Economy of expenses on conducting
Businesses will make 978 million sing. Dollars (reduction
The tax to the property will provide liberation of 400 million,
Establishment of the discount for rent payments in the industry - 204
Million, in trade and housing sector - 80 million, in civil
Aircraft - 54 million, decrease in tariffs for services "Singapore Telecom"
- 102 million and "Singapore Power" - 81 million, time cancellation
Some gathering for a parking of cars - 37 million, decrease
Port gathering on 20 % - 20 million). The governmental initiatives in
To infrastructural sphere will provide economic benefit in size
668 million sing. Dollars (realisation of infrastructural projects - 460
Million, commercial programs - 125 million, additional employment
The personnel - 83 million). Actions in other sectors
(A suspension in 1999 of sale of the ground areas belonging
To the state, a delay of collection of the stamp duty at purchase
Not complete objects, a position suspension about collection 5 %-s'
pogodovoj payments for prolongation of time for completion of projects in the private
Housing construction, introduction of tax privileges for owners
Reconstructed hotels, etc.) will give a total prize in 395 million
To lacks of the program of analytics carry absence of large measures
On demand stimulation. Its decrease is observed in connection with
Unemployment growth: only in 1998 of job will lose 30 thousand
Singaporeans. Reduction of orders on new becomes a consequence
Building, the further destabilization of the market of the real estate. With
Occurrence of crisis of the price for private habitation have decreased for 30 %.
Prior to the beginning of stabilisation they will fall still approximately on 20 - 25 %.
//* an information Source: BIKI, 28.07.98
//* Reg. Nom. - 1080700238.27-------------------------------------------
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