Singapore will be able to borrow to pay for major infrastructure projects, such as new MRT lines, through borrowing. The Significant Infrastructure Government Loan Bill (SINGA) was passed in Parliament on May 10. Deputy Prime Minister Heng Swee Keat said the projects will go through a rigorous selection process before they can be funded through borrowing. He was responding to questions about safeguards to ensure sustainable spending. To prevent excessive burden on future generations, loans raised under SINGA cannot exceed S$90 billion.
Subscribe to our channel here: https://cna.asia/youtubesub
Subscribe to our news service on Telegram: https://cna.asia/telegram
CNA Lifestyle: http://www.cnalifestyle.com