Singapore may run into structural budget deficits in the next decade if it does not raise revenues to meet increases in spending on infrastructure and health care, Finance Minister Tharman Shanmugaratnam said.
Tembusu Terminals Pte set up what may be Singapore’s first automated tele-exchange machine for buying Bitcoins days after a Tokyo exchange for the virtual currency was shut amid concerns about possible theft.
Singapore said it will spend S$9 billion ($7 billion) on health care and other benefits for the elderly, while providing companies with more funds to increase efficiency as the economy adjusts to a tighter labor supply.
The Federal Reserve will release minutes from its Jan. 28-29 meeting, the last presided over by former Chairman Ben S. Bernanke and at which policy makers further reduced the central bank’s record stimulus.
Housing starts probably fell in January as colder-than-normal temperatures and snowstorms slowed work in parts of the U.S., data this week are forecast to show. The projected decline indicates the residential real estate market succumbed to the same inclement conditions that have slowed retail sales, manufacturing and job growth. Another report may show higher borrowing costs at the start of the year, along with the weather, slowed sales of previously owned homes.