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Singapore

Govt to continue to monitor capital inflows

Singapore's financial sector is sound and its financial markets are deep and have been able to intermediate large capital flows so far.

Govt to continue to monitor capital inflows

Mr Lawrence Wong speaking in Parliament. (file picture)

SINGAPORE: Singapore's financial sector is sound and its financial markets are deep and have been able to intermediate large capital flows so far.

MP Ong Teng Koon had asked whether there are destabilising capital inflows into Singapore from investors.

Minister of State for Defence and Education Lawrence Wong said in Parliament on Monday that capital inflows to Singapore have receded and moved back to some major markets since late 2011.

The impact of money flows to the property market has been a source of concern and the government has taken steps to address it.

"We cannot rule out Singapore seeing a resurgence in short-term capital inflows given strong macroeconomic fundamentals. We will continue to monitor closely the impact of capital inflows on the domestic economy and especially on our asset markets, to ensure that these flows do not threaten the financial system or property market," said Mr Wong.

Source: CNA/cc

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