Singapore govt promises hope in light of recession

As fears of a recession loom in the midst of a slowing global economy, President Tony Tan promises modest growth (3 – 5%) in the years to come and that Singapore is equipped to tide an impending economic storm. Singapore’s economy is one of the most competitive economies in the world and is bolstered by prudent fiscal practices and governance. Singapore also has a track record of demonstrating economic resilience, as reflected in the 1997 Asian Financial Crisis and 2008 Global financial crisis.

Although Singapore has adequate reserves, an educated workforce, a diversified economy and signs of a moderating core inflation, Singapore is pulling out all the stops to “ensure sustained and inclusive economic growth for Singapore” in the years to come. This week, four national agencies – Singapore’s Ministry of Trade and Industry (MTI), Monetary Authority of Singapore (MAS), Ministry of Finance (MOF) and National Research Foundation (NRF) have announced their long-term strategic plans towards this end.

To read the full article, please visit http://www.guidemesingapore.com/blog-post/singapore-business/spore-govt-promises-hope-in-light-of-recession

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Created on Oct 17th 2011 04:16. Viewed 273 times.

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