Loan?

[Angcheek]

24 minutes ago, Thaiyotakamli said:

Reserves come mainly from taxes, u nvr pay tax for this year?🤪😂

Tax drop $50 ... ccb😄

I thought reserves meant extra money ..those taxes not enough to pay all the civil servants and million dollar ministers 

[Philipkee]

20 hours ago, Fitvip said:

Reserves insufficient? Surprised!

http://theindependent.sg/questions-about-who-is-loaning-singapore-s22-billion-arise-as-dpm-heng-discloses-finance-data/

I mentioned before here.  When the govt says they draw from the reserves, what do they mean?  What are our reserves?

Example - let's say our reserves are 1 trillion dollars

Does the Singapore Gov have a bank account with $1 trillion inside so they can withdraw as needed?

Or is it in the form of buildings or investments which cannot be converted to cash readily? If it is this case, then a loan makes sense cos it cheaper then selling a building or selling off an investment just for this.

Hopefully it's not merely the value of all the land in Singapore combined cos then all of us here are millionaires when you consider how much our organs are worth on the open market...

 

Edited June 20, 2020 by Philipkee