According to Bloomberg, The Government of Singapore Investment Corp., (GIC) which manages more than $100 billion of the city-state's reserves, has earned an average 9.5 percent a year since its inception in 1981. This was stated by GIC Chairman Mr. Lee Kuan Yew.
Singapore's foreign reserves increased to $128.9 billion in May to become the seventh largest in the world, from ``only a few billion dollars'' in 1970, according to GIC and data from the city-state's central bank.
This is a great achievement that Singapore can be proud of.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment