SINGAPORE - The initial signs are positive that Singapore’s economy will do better in the Year of the Dragon despite some uncertainties in the external environment, said Prime Minister Lee Hsien Loong on Feb 9.
“Growth was not quite as high as we would have liked, but it has been a steady year and we avoided a recession. Next year, meaning 2024, we hope will be stronger than 2023,” he said. “We are not sure exactly how it will turn out... But as of now, from what we can tell, it looks like this year ought to be stronger than last year,” he said. “And from the point of view of Singaporeans, of companies and, of course, of the Government, we should be happy with that.”He said inflation had come down in 2023 from its peak in 2022, and is now at about 4 per cent to 5 per cent. He added that he hoped it would continue to fall in 2024.
PM Lee was speaking to reporters after visiting healthcare workers at Ng Teng Fong General Hospital, where he heard presentations about its new projects and also celebrated Chinese New Year with its staff. PM Lee said this year should be his last Chinese New Year visit to workers as prime minister. He has said he will hand over to Deputy Prime Minister Lawrence Wong by November 2024 “if all goes well”.
Nurse Kennis Koh, 25, was excited to meet PM Lee. She has worked through every single Chinese New Year, save for one day off each time, since she started on her job three years ago.
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