singapore economic growth higher
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Singapore economic growth higher

Arab Today, arab today

Arab Today, arab today Singapore economic growth higher

Singapore - AFP

Singapore'e trade-sensitive economy exceeded forecasts to expand 3.7 percent in 2013, Prime Minister Lee Hsien Loong said Tuesday, as it benefited from a stabilising global economic environment. In his New Year message emailed to the media, Lee said the growth rate was "better than initially expected". It topped a previous forecast by him in August of 2.5-3.5 percent growth amid global uncertainties. "The European and American economies are stabilising," Lee said. "Asian prospects are still positive, but there are problems and tensions," he added, referring to the various territorial disputes in the region as well as tensions in the Korean peninsula. He said the city-state's economy, seen as a bellwether for the region, is expected to achieve 2.0-4.0 percent growth in 2014.   Its gross domestic product (GDP) stood at Sg$345.6 billion ($273.25 billion) in 2012, according to latest official data. Singapore's exports, like those of other Asian countries, had been hurt by slowing demand from the United States and Europe this year, although the situation in those markets has now improved. In his message, Lee said the government was continuing to tighten the influx of foreign labour, amid discontent among Singaporeans over the large foreign presence in the tiny city-state of 5.4 million people. Only 3.84 million are citizens and permanent residents. "We are taking a balanced approach, reducing but not cutting off the inflow of foreign workers," Lee said. He said foreign workers were still necessary to "keep our economy running and to build critical infrastructure for Singaporeans". Authorities have been phasing in various measures to tighten foreign worker inflows, including a new policy announced in September requiring companies to show proof they first tried to recruit local citizens before hiring foreign professional workers. The city-state however continues to depend heavily on about 700,000 guest workers who are employed in construction and other sectors shunned by Singaporeans. More than 200,000 others work as domestics. The discontent over foreigners -- who are accused by Singaporeans of competing with them for jobs, housing, schools and space on public transport -- spilled into general elections in 2011, when Lee's long-ruling People's Action Party garnered its lowest-ever vote count after more than 50 years in power.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

singapore economic growth higher singapore economic growth higher

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

singapore economic growth higher singapore economic growth higher

 



GMT 03:07 2017 Wednesday ,25 January

Health care veterans, pioneers awarded

GMT 05:44 2017 Saturday ,11 November

Business as usual as Hamilton dominates Brazil practice

GMT 11:08 2018 Thursday ,25 October

Russia to be at very high level at conference on Libya

GMT 15:00 2012 Saturday ,21 April

Nelly Karim: Egypt akin to \'Hiya Fawda\'

GMT 03:02 2018 Saturday ,20 January

Egypt's President Sisi says will stand for re-election

GMT 00:51 2017 Tuesday ,24 October

HH the Emir Meets Foreign Minister of Kuwait

GMT 05:42 2017 Saturday ,02 September

64 dead in clashes in Raqa province

GMT 00:08 2017 Sunday ,05 March

Desperate migrants escape Libya 'hell'

GMT 19:24 2016 Saturday ,12 November

Israeli air forces attack Syrian position in Qunaitera
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday