09-08-2012, 11:38 AM
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The Straits Times
www.straitstimes.com
Published on Aug 09, 2012
Growth forecast for the year narrowed to 1.5% - 2.5%
SINGAPORE'S economic growth for the year will likely be between 1.5 per cent and 2.5 per cent.
Prime Minister Lee Hsien Loong yesterday announced this narrowing of the forecast, as the Government had previously said the economy was expected to grow between 1 per cent and 3 per cent this year.
He also revealed that the economy grew 1.7 per cent in the first half of the year.
Giving these new figures in his National Day message, Mr Lee said that National Day this year was being celebrated amid an "unsettled world" with the US and Europe facing serious economic problems.
But Singapore was doing well against this backdrop.
"Internationally, Singapore's standing is high, whether with emerging countries like India and China or advanced nations like the US. Domestically, we are clearing the backlog of applicants for HDB flats, building more MRT lines and upgrading our bus services," he said.
Economists yesterday said the narrower forecast was expected.
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The Straits Times
www.straitstimes.com
Published on Aug 09, 2012
Growth forecast for the year narrowed to 1.5% - 2.5%
SINGAPORE'S economic growth for the year will likely be between 1.5 per cent and 2.5 per cent.
Prime Minister Lee Hsien Loong yesterday announced this narrowing of the forecast, as the Government had previously said the economy was expected to grow between 1 per cent and 3 per cent this year.
He also revealed that the economy grew 1.7 per cent in the first half of the year.
Giving these new figures in his National Day message, Mr Lee said that National Day this year was being celebrated amid an "unsettled world" with the US and Europe facing serious economic problems.
But Singapore was doing well against this backdrop.
"Internationally, Singapore's standing is high, whether with emerging countries like India and China or advanced nations like the US. Domestically, we are clearing the backlog of applicants for HDB flats, building more MRT lines and upgrading our bus services," he said.
Economists yesterday said the narrower forecast was expected.
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