"For what? Just like that!": Singapore will distribute half a billion dollars to residents

"For what? Just like that!": Singapore will distribute half a billion dollars to residents

Categories: Asia | Economy

One of the "Asian tigers" — Singapore, has earned so much money in the budget that he does not know where to put it. Instead of asking our officials for advice, who would solve the problem very quickly, the city state plans to distribute surplus funds to its citizens.

The Ministry of Finance announced its plans to pay 700 million Singapore dollars (about 500 million US dollars) to 3 million of its residents. A total of 5.6 million people live in Singapore, but only citizens over the age of 21 will receive payments.

"For what? Just like that!": Singapore will distribute half a billion dollars to residents

When calculating bonuses, there is no sense of equalization — every Singaporean will receive an amount calculated in accordance with his annual income. Citizens earning more than 100 thousand Singapore dollars per year will receive only 100 bucks, and those whose annual salary did not exceed 28 thousand will be showered with a golden shower in the amount of $ 300. The official website of the financial department also states that citizens who do not need money can donate them to those who are in poverty.

"For what? Just like that!": Singapore will distribute half a billion dollars to residentsThe desire to share money with its citizens appeared in the state due to the fact that in 2017 the country-city could not spend almost 10 billion. Singapore dollars, which is approximately 7.3 billion US dollars. This is not the first time that the money saved has been distributed to Singapore residents.

In this small but very rich country, there is a system of bonuses for civil servants. Surprisingly, the servants of the people here receive the most modest salary, which for ordinary employees rarely exceeds 3 thousand Singapore dollars (2000 US dollars), and for executives — 18 thousand Singapore dollars (12,000 US dollars). In order to prevent hunger among officials, the state pays them an annual surcharge of 0.5%, and in addition, sometimes pampers them with more substantial cash injections. The largest bonus to date is the payment of 2017, when functionaries were paid an average of 1,800 Singapore dollars.

"For what? Just like that!": Singapore will distribute half a billion dollars to residents

Why do you think this is impossible in our country?

Keywords: Budget | Money | Singapore

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