01 Jan '12, 11pm

Take economic fluctuations in stride: PM Lee

Take economic fluctuations in stride: PM Lee

The Prime Minister has signalled that this year's Budget will be different from that in 2009, when the Government 'had to go all out' to support the economy in the face of 'a once in a generation' recession. -- THE NEW PAPER PHOTO: KELVIN CHNG By Janice Heng The Prime Minister has signalled that this year's Budget will be different from that in 2009, when the Government 'had to go all out' to support the economy in the face of 'a once in a generation' recession. Mr Lee Hsien Loong was asked by reporters if Singaporeans could expect hongbao, or red packets, in the upcoming Budget, given the uncertain economic outlook. The economy is expected to grow by between 1 and 3 per cent this year, down from last year's 4.8 per cent. The last time Singapore saw such slow growth was when the global financial crisis hit in 2008. The economy grew just 1.5 per cent that year, and contract...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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