SINGAPORE — The Republic’s economic growth forecast for this year is between 2.5 and 3.5 per cent, higher than previously expected, said Prime Minister Lee Hsien Loong today (Aug 8) in his National Day Message.
The previous official forecast placed growth at between 1 and 3 per cent. In the first half of this year, Singapore’s economy grew by 2 per cent.
“Our economy is holding steady amidst global uncertainties. We are attracting more quality investments. Unemployment remains low,” said Mr Lee. “Even as we tighten up on foreign workers and immigration, we must maintain investor confidence and keep Singapore open for business.”
He noted that the world is “changing rapidly and unpredictably” and Singapore too, is changing.