LBO Home IndoChina | About Us | To Advertise | Contact Us rss LBO Mobil rss rss rss rss rss
International Arbitration Centre to be established in Sri Lanka |     Electricity tariff reduction for hotels and shops from this November                                          A Special Tax Scheme for the motor vehicle imports instead of the current system |  Minimum monthly salary of the State Sector employee increased to Rs. 15,000                                          Value Added Tax reduced to 11 percent |     Aerospace Engineering Unit will be established at the Moratuwa University | EPF payment from the employer to be increased to 14%                                          Sri Lanka Customs to have a One Stop Service Center |  Import tax removed on infant milk food | Electricity tariff reduction for hotels and shops from this November                                          A special duty scheme on motor vehicles for foreign employed individuals |  Main Sri Lankan towns to be developed under a special Urban Development Programme                                          
Fri, 24 October 2014 21:44:46
Singapore retain 'AAA' rating, runs budget surplus
01 Mar, 2013 07:55:57
Mar 01, 2013 (LBO) - Singapore is expecting a budget surplus of 1.1 percent of gross domestic product in the year to March 2012, Standard & Poor's said confirming the country's 'AAA' rating.Fake Mulberry Bags
"The stronger surplus is attributable to higher-than-expected stamp duties on property transactions and vehicle-related taxes," Standard and Poor's said.

"Singapore excludes government land sales and a substantial portion of fiscal reserve investment returns from its reported revenue."

S & P said it expected Singapore to have balanced budget over the next three to five years despite announcing transfers

"Many of the new spending initiatives are either one-off or have limited lifespans," the rating agency said.

Singapore's Prudent Fiscal Stance Underpins The 'AAA' Rating

SINGAPORE (Standard & Poor's) Feb. 26, 2013--Standard & Poor's Ratings Services said today that Singapore's projected budget surpluses for the next two fiscal years continue to support the sovereign's creditworthiness (unsolicited ratings AAA/Stable/A-1+; axAAA/ax-1+).

The government estimates a surplus of Singapore dollars (S$) 3.9 billion (1.1% of GDP) for the fiscal year ended March 31, 2013. That amount would be significantly higher than the government's initial projections.

The stronger surplus is attributable to higher-than-expected stamp duties on property transactions and vehicle-related taxes. Singapore excludes government land sales and a substantial portion of fiscal reserve investment returns from its reported revenue. Deputy Prime Minister and Finance Minister Mr. Tharman Shanmugaratnam said on Monday the government is budgeting for an overall surplus of S$2.4 billion, or 0.7% of GDP, in the next fiscal year.

We expect Singapore to achieve balanced budgets over the next three to five years despite the government announcement of increases in transfers and spending on various support schemes. Many of the new spending initiatives are either one-off or have limited lifespans. Consequently, they have limited structural impact on the budgetary position. We continue to view Singapore's budgetary position as supportive of the 'AAA' sovereign credit ratings.

Your Comment
Your Name/Handle
Your Email (Your email will not be displayed)
Location
Country
Your Email
Receivers Email
Your Comment