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8 August 2013

GDP growth forecast up, PM Lee says Govt to do more to build fair society

The Singapore economy is holding steady and is likely to grow faster than expected 2.5 per cent to 3.5 per cent this year, said Prime Minister Lee Hsien Loong.

The full year GDP growth figure was revised upwards from 1 to 3 per cent, as the economy expanded 2 per cent in the first half of the year.

"The economy is holding steady amidst global uncertainties. We are attracting more quality investments. Unemployment remains low," said Mr Lee in his National Day message.

He added that Singapore must maintain investor confidence and keep Singapore open for business even as it tightens up on foreign workers and immigration.

Source: The Straits Times By:  Robin Chan