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Saladin @saladinMY
, 7 tweets, 2 min read Read on Twitter
Opposition Fools keep claiming that Singapore's external debts amount to 110% of their GDP. The fact is Singapore Government has around RM3 trillion of assets and 0 external debt.
I mean how could they go into debt when year after year, they close their budget with surplus unlike Malaysia who borrow to pay for operational expenditure?
Singapore Government has clarified that the so called debt the Opposition fools is fond of citing is actually mainly monies brought in by Singapore's international banking sector and these so called "loans" are fully backed by assets.
So don't be fooled when approached by UMNO Macai who says that our debts are ok and we should take on more debts! It is not ok.
Read this SG Govt explanation. It is laid out in plain English:"Having debt means that we hv liabilities. However, looking only at the liabilities alone (i.e. gross debt) does not discriminate between 2 countries with d same level of debt but with very different levels of assets"
"In Singapore’s case, we do not borrow to spend. We instead invest all borrowing proceeds. All borrowings are thus backed by assets." The crooks in Malaysia have even borrowed to steal almost the entire proceeds... e.g. #1MDB #SRC
And Singapore's infrastructure is fully paid by the Government. No hidden loans like PFI Deferred Payments or long term concession to collect tolls (taxes) from the Public. Never ever compare Singapore with our debt woes.
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