Singaporeans come first for Govt: PM

Read this article about the Singapore economy, before the imminent 2010 election.

Singaporeans come first for Govt: PM 

Fri, Jan 01, 2010
The Straits Times

 
Singaporeans come first for Govt: PM

By Kor Kian Beng, Political Correspondent

SINGAPOREANS are top priority for the Government, which will aim to grow the economy in a way that allows all citizens to share in the benefits, Prime Minister Lee Hsien Loong has emphasised in his New Year message for 2010.

It will do this in two ways: by growing Singapore's external wing, and raising per capita income by boosting the skills level of workers.

At the same time, the Government will also 'manage and moderate' the inflow of foreign workers so that Singaporeans are not overwhelmed by the sheer numbers, he said.

2009's economic growth at minus 2.1%

QUARTER on quarter, the Singapore economy grew by 3.5 per cent from October to December, according to Prime Minister Lee Hsien Loong in his New Year message for 2010.

This is markedly lower than the 14.2 per cent achieved between July and September, and the 21.7 per cent between April and June.

The slowdown in the last quarter is, however, in line with the expectations of economists, who have anticipated that after two straight quarters of strong growth, a slump in the volatile biomedicals segment would drag down the fourth quarter figure.