Think the government is going to have a really hard time trying
to bring up the birth rate.
We are a city, that's it. And looking around the world, almost all
first world cities have a hard time reproducing themselves. It
seems to be an urban phenomenon.
At least in some countries like USA or Canada, there is a
significant proportion of people in rural areas who can help to
"top up" the numbers. Even then, USA takes in large numbers of
immigrants. They are having problems assimilating them too. Read
around the problems of the Hispanics for more details. Very highly
urbanised countries like Japan are also having problems, and in
fact, their population is dropping.
The "native" Singaporeans are going to drop in numbers. The
newcomers would likely at most be PRs, so they have the option of
bringing back S$ back to their own countries where it can be
exchanged for a hefty amount of their own currency; and their sons
avoid serving NS. Who is going to serve NS? When things turn bad,
and the FTs fly off (as economic migrants do), who is going to pick
the sh** from the fan?