“We may be small but we still need stabilizers specially in two areas: Protecting our reserves and safeguarding the integrity of our public service…these are two critical elements that give us safety, security and resources for the future,” Lee Hsien Loong, a Singaporean politician and former brigadier-general who has been serving as Prime Minister of Singapore and Secretary-General of the People’s Action Party since 2004 says.
“It took us decades to build our foreign reserves…they are our oil in the ground” he adds. Watch this video clip for more:
“If we don’t have a second key, and we have a generous government, it can spend it all and bring us back to zero…”, the 70-year-old PM of Singapore says.
Prior to his appointment as prime minister, Loong served as the country’s deputy prime minister between 1990 and 2004.
Singapore’s parliament and the president jointly make up the country’s legislature. Largely based from the Westminster system, the Parliament is unicameral.
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