Gimme,gimme!
8 August 2005
PM Lee announces revised 2005 growth forecast of 3.5-4.5%
SINGAPORE : Singapore's economic growth forecast for this year has been revised to between 3.5 and 4.5 percent, from the initial range of 2.5 to 4.5 percent, Prime Minister Lee Hsien Loong has said.
In the first half, the economy grew at a 4 percent pace, Mr Lee said in his first National Day Message as Prime Minister.
In May this year, the Ministry of Trade and Industry revised Singapore's whole year growth figures to between 2.5 and 4.5 percent from a 3 to 5 percent forecast.
In his message, Mr Lee said that in 40 years, Singapore has succeeded beyond all expectations and he expects the next five years to be better than the last five.
Singapore has every reason to rejoice, said Mr Lee.
The economy has developed and prospered and after each downturn, and the country has bounced back to create more jobs and a better life for all, he said.
In fact in the first half of this year, 45,500 jobs were added, many more than in the same period last year.
Mr Lee said this has made it easier for displaced workers to find new jobs; efforts to re-design and recreate jobs for older, less skilled workers have also helped.
Next, Singapore's society is harmonious and cohesive and the people have built mutual trust between different communities.
Also, the SAF and the Home Team are strong and tested and because of them Singaporeans can sleep peacefully at night.
But Mr Lee reminded Singaporeans they must remain vigilant against threats to the country's security.
Said Mr Lee, "The bombings in London and in Egypt remind us that the war on terror continues and despite the tightest precautions, the terrorists sometimes get through. We must be psychologically prepared for this so that if they ever strike here, we will be resolute and indomitable, refusing to be cowed by the terrorists and staying one united people."
Mr Lee said Singapore's strong fundamentals enabled its people to face the future with confidence.
He said the country's main priority was to grow and upgrade the economy by developing new skills and capabilities, to open new markets abroad, bring in new investments and seed new areas of growth.
After all, economic growth is the best social welfare programme, the Prime Minister said.
"Prosperity provides us the resources to tackle many difficult challenges. One challenge is the widening income gap. We cannot reverse this worldwide trend but we can help lower income Singaporeans to keep up and find new opportunities," Mr Lee said.
Concluding, Mr Lee said that looking ahead, the signs are favourable as Asia is prospering and Singapore's neighbours in ASEAN are doing well.
Singapore is also doing the right things, investing in people and gearing up to live in a different world.
Mr Lee expects the next five years to be better than the last five.
He said, "Let us dedicate ourselves anew, as one united people to securing this bright and enduring future for Singapore." - CNA
You have those Economic Restructuring Shares? I do. And a double-digit growth rate would grow those ERS nice and fat. Here's how it works: in addition to using the economy's growth rate as the rate of return, the government gives 3% more on your ERS. So, in a hypothetical case, a 10% growth rate would give you quite a lovely return of 13% on $500 worth of ERS i.e. $65.
Pity it isn't to be THAT nice this year. But hold on to them - you can't beat this kinda returns rate.
On a sidenote, is that elections I smell in the air? *sniff* The mood is buoyant, big urban redevelopment plans are in place and ready to be fired up if not already and the men in white aka PAP are looking stronger than ever.
It's coming. I can feel it.......
PM Lee announces revised 2005 growth forecast of 3.5-4.5%
SINGAPORE : Singapore's economic growth forecast for this year has been revised to between 3.5 and 4.5 percent, from the initial range of 2.5 to 4.5 percent, Prime Minister Lee Hsien Loong has said.
In the first half, the economy grew at a 4 percent pace, Mr Lee said in his first National Day Message as Prime Minister.
In May this year, the Ministry of Trade and Industry revised Singapore's whole year growth figures to between 2.5 and 4.5 percent from a 3 to 5 percent forecast.
In his message, Mr Lee said that in 40 years, Singapore has succeeded beyond all expectations and he expects the next five years to be better than the last five.
Singapore has every reason to rejoice, said Mr Lee.
The economy has developed and prospered and after each downturn, and the country has bounced back to create more jobs and a better life for all, he said.
In fact in the first half of this year, 45,500 jobs were added, many more than in the same period last year.
Mr Lee said this has made it easier for displaced workers to find new jobs; efforts to re-design and recreate jobs for older, less skilled workers have also helped.
Next, Singapore's society is harmonious and cohesive and the people have built mutual trust between different communities.
Also, the SAF and the Home Team are strong and tested and because of them Singaporeans can sleep peacefully at night.
But Mr Lee reminded Singaporeans they must remain vigilant against threats to the country's security.
Said Mr Lee, "The bombings in London and in Egypt remind us that the war on terror continues and despite the tightest precautions, the terrorists sometimes get through. We must be psychologically prepared for this so that if they ever strike here, we will be resolute and indomitable, refusing to be cowed by the terrorists and staying one united people."
Mr Lee said Singapore's strong fundamentals enabled its people to face the future with confidence.
He said the country's main priority was to grow and upgrade the economy by developing new skills and capabilities, to open new markets abroad, bring in new investments and seed new areas of growth.
After all, economic growth is the best social welfare programme, the Prime Minister said.
"Prosperity provides us the resources to tackle many difficult challenges. One challenge is the widening income gap. We cannot reverse this worldwide trend but we can help lower income Singaporeans to keep up and find new opportunities," Mr Lee said.
Concluding, Mr Lee said that looking ahead, the signs are favourable as Asia is prospering and Singapore's neighbours in ASEAN are doing well.
Singapore is also doing the right things, investing in people and gearing up to live in a different world.
Mr Lee expects the next five years to be better than the last five.
He said, "Let us dedicate ourselves anew, as one united people to securing this bright and enduring future for Singapore." - CNA
You have those Economic Restructuring Shares? I do. And a double-digit growth rate would grow those ERS nice and fat. Here's how it works: in addition to using the economy's growth rate as the rate of return, the government gives 3% more on your ERS. So, in a hypothetical case, a 10% growth rate would give you quite a lovely return of 13% on $500 worth of ERS i.e. $65.
Pity it isn't to be THAT nice this year. But hold on to them - you can't beat this kinda returns rate.
On a sidenote, is that elections I smell in the air? *sniff* The mood is buoyant, big urban redevelopment plans are in place and ready to be fired up if not already and the men in white aka PAP are looking stronger than ever.
It's coming. I can feel it.......
posted by Ming at 3:31 PM
1 Comments:
is this new paper ?
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