02 Feb '11, 2am

Prime Minister Lee Hsien Loong's Chinese New Year Message 2011 via @AddThis

1. Singapore’s economy roared in the Year of the Tiger. We pulled ourselves out of recession, and delivered an exceptional economic performance. Workers are enjoying better bonuses, and all over the island the mood is vibrant and joyous during this festive period. 2. The momentum is carrying into the Year of the Rabbit. Our prospects are good, boosted by robust growth in Asia and strong investment flows into Singapore. But we need to watch for risks that remain in the global economy, especially in the US and Europe. 3. As our economy has picked up, property prices have risen significantly, especially over the past year. This partly reflects optimism and confidence in our economy, on the part of both Singaporeans and foreign investors. But it is also due to global monetary conditions: interest rates are very low and liquidity abundant, so global funds are chasing higher-yie...

Full article: http://www.pmo.gov.sg/content/pmosite/mediacentre/speeche...

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