Government prepared for economic cycles: Heng Swee Keat

(From left) Mr Patrick Collison, CEO of Stripe, Foreign Minister Vivian Balakrishnan, Finance Minister Heng Swee Keat, and Economic Development Board managing director Chng Kai Fong at the Tech Forum in San Francisco on April 20, 2019.
(From left) Mr Patrick Collison, CEO of Stripe, Foreign Minister Vivian Balakrishnan, Finance Minister Heng Swee Keat, and Economic Development Board managing director Chng Kai Fong at the Tech Forum in San Francisco on April 20, 2019.PHOTO: ST READER

The Singapore economy will go through cycles and the Government is prepared to use counter-cyclical monetary and fiscal policy to manage this, Finance Minister Heng Swee Keat has said.

However, he said what was more important was for the Government to focus on very major structural changes happening in the global and Singapore economy, as well as industry transformation and how synergy can be created.

He was speaking on the sidelines of a tech forum in San Francisco on Saturday. Asked about the prospects of a Cabinet reshuffle in Singapore, he said it is likely to happen soon.

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A version of this article appeared in the print edition of The Straits Times on April 22, 2019, with the headline 'Govt prepared for economic cycles: Heng'. Print Edition | Subscribe