Singapore raises growth forecast for 2013

Singapore Lee
Singapore Prime Minister Lee Hsien Loong

In a confusing series of revisions of its quarterly and annual GDP growth forecasts Singapore Prime Minister Lee Hsien Loong on August 8 said that the city state’s economy is expected to grow 2.5 to 3.5 per cent this year, higher than  the previous government projection of 1 to 3 per cent.

In a message on the eve of the city-state’s National Day, Lee said the export-oriented economy has “held steady” despite global uncertainties as it expanded by an annualised 2 per cent in the first half of the year, adding that Singapore was attracting “more quality investments.”

“And even as we tighten up on foreign workers and immigration, we must maintain investor confidence and keep Singapore open for business,” Lee said.

Singapore’s exports had been hurt by slowing demand from the US and Europe, although the situation in those markets has improved.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

[caption id="attachment_13748" align="alignleft" width="240"] Singapore Prime Minister Lee Hsien Loong[/caption] In a confusing series of revisions of its quarterly and annual GDP growth forecasts Singapore Prime Minister Lee Hsien Loong on August 8 said that the city state's economy is expected to grow 2.5 to 3.5 per cent this year, higher than  the previous government projection of 1 to 3 per cent. In a message on the eve of the city-state's National Day, Lee said the export-oriented economy has "held steady" despite global uncertainties as it expanded by an annualised 2 per cent in the first half of the year,...

Singapore Lee
Singapore Prime Minister Lee Hsien Loong

In a confusing series of revisions of its quarterly and annual GDP growth forecasts Singapore Prime Minister Lee Hsien Loong on August 8 said that the city state’s economy is expected to grow 2.5 to 3.5 per cent this year, higher than  the previous government projection of 1 to 3 per cent.

In a message on the eve of the city-state’s National Day, Lee said the export-oriented economy has “held steady” despite global uncertainties as it expanded by an annualised 2 per cent in the first half of the year, adding that Singapore was attracting “more quality investments.”

“And even as we tighten up on foreign workers and immigration, we must maintain investor confidence and keep Singapore open for business,” Lee said.

Singapore’s exports had been hurt by slowing demand from the US and Europe, although the situation in those markets has improved.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply