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S&P gives Singapore top AAA rating

Standard and Poor’s Ratings Services (S&P) has issued a top AAA unsolicited rating on Singapore following the country’s 2015 budget announcement.
Standard and Poor’s Ratings Services (S&P) has issued a top AAAunsolicited rating on Singapore following the country’s 2015 budgetannouncement.

Singapore’s 2015 budget shows “the strength of thegovernment’s institutional and governance effectiveness” even as itspopulation ages at one of the fastest rate in Asia.

The 68.2 billion SGD budget focuses on dealing with long termchallenges in addition to retrain workers and increase support for localhouseholds and capacity of transportation and health services. It willhelp maintain Singapore’s position both regionally and globally.

The Singaporean government forecast a projected budget deficit of 6.7billion SGD in the 2015 fiscal year ending March 2016. S&P estimatesthat the general government account will remain in surplus over the2014 and 2015 fiscal years.-VNA
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Oil field offshore Indonesia. (Photo: thejakartapost.com)

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