SINGAPORE: The city-state is considering dipping into its reserves for the first time to help tackle an economic slump, as it plans a budget this week that is expected to fund infrastructure projects and possible tax cuts.
The government could tap the central bank’s foreign reserves that totalled US$174.2bil in December, or its two sovereign wealth funds, Government of Singapore Investment Corp (GIC) and Temasek that have at least a combined US$230bil in assets.
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