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.