Back
31 Dec 2013
Singapore's economy grew by 3.7 percent in 2013 says Prime Minister Lee Hsien Loong
FXstreet.com (London) - In his New Year message, Singaporean Prime Minister Lee Hsien Loong announced that the economy grew by 3.7 percent in 2013, with growth of 2.4 percent expected next year.
“This means better jobs and new opportunities for workers. It also means that we can do more to make ours a gracious city for all,” said Lee.
The Prime Minister also reiterated previous statements that the country would move to increase the size of its social security system.
“These are major shifts in our way forward. We will implement changes progressively, and improve on our programmes as we learn what works best.”
In reference to external economic concerns as well as geopolitical concerns in the South China Sea, Lee said: “The European and American economies are stabilising,” adding: “Asian prospects are still positive, but there are problems and tensions.”
The Singaporean dollar has declined 3.5 percent against the US dollar over the year-to-date. SGD/USD is currently trading at USD0.7903, up 0.16 percent.
Singapore will release preliminary fourth quarter GDP figures on 2 January when consensus expectation is for an annualised 1.3 percent decline on the third quarter.
“This means better jobs and new opportunities for workers. It also means that we can do more to make ours a gracious city for all,” said Lee.
The Prime Minister also reiterated previous statements that the country would move to increase the size of its social security system.
“These are major shifts in our way forward. We will implement changes progressively, and improve on our programmes as we learn what works best.”
In reference to external economic concerns as well as geopolitical concerns in the South China Sea, Lee said: “The European and American economies are stabilising,” adding: “Asian prospects are still positive, but there are problems and tensions.”
The Singaporean dollar has declined 3.5 percent against the US dollar over the year-to-date. SGD/USD is currently trading at USD0.7903, up 0.16 percent.
Singapore will release preliminary fourth quarter GDP figures on 2 January when consensus expectation is for an annualised 1.3 percent decline on the third quarter.