Singapore Authorities Decided to Pay Citizens $511 Million
OREANDA-NEWS Residents of Singapore will receive $511 million for contribution to the development of the country. This information was published on the official website of the Singapore Ministry of Finance.
A one-time payment for residents was provided in the Singapore budget for 2018. Its size will depend on the level of personal income. So, if in 2017 the citizen earned no more than 28 thousand Singapore dollars ($20,4 thousand), he will receive 300 Singapore dollars ($219,2). If his income does not exceed 100 thousand Singapore dollars ($73,09 thousand), the 200 Singapore dollars ($146,1), all earned more will be able to receive payment of 100 Singapore dollars ($73).
As noted in the Ministry of Finance, this payment will be received by all adult citizens of the country (about 2.8 million). According to the portal “Countrymeters”, just 5.97 million people live in the country.
This reflects the longstanding commitment of the government to share the results of development of the country with Singaporeans, the Ministry of Finance of Singapore. Personal award can be sent to the donation, specified in the message.
In February, the Ministry of Finance of Singapore reported on the growth of the country's economy in 2017 by 3.6% higher than expected. Thus, productivity increased by 4.5%, and the average income of the country's residents by 5.3%. The Finance Ministry stressed that this is the highest performance since 2010.
Recall that, according to the World Development Bank, last year Singapore became the best country in terms of regulatory conditions for business. In addition, Singapur often is one of the best positions in various rankings: the country is among the ten States with the best roads, the top ten most peaceful countries and other ratings. And in March, the international organization Economist Intelligence Unit once again recognized Singapore as the most expensive city in the world.