31 Dec '11, 9am

S'pore's economy grew 4.8% in 2011

SINGAPORE: Singapore's economy grew 4.8 per cent in 2011, significantly slower than the dramatic rebound of 14.7 per cent growth in 2010. It is slightly below the forecast of around five per cent by the Ministry of Trade and Industry. Prime Minister Lee Hsien Loong, who announced the growth figures in his 2012 New Year message on Saturday, described the pace of growth for the year as "steady". He warned that with the external environment uncertain and debt problems in Europe far from solved, 2012 will look like a difficult year for the global economy. He said that Singapore, as a small, open country, will inevitably be affected. Mr Lee said 2011 was a significant year for Singapore, when its people went to the polls twice, and elected a new government and President. He said that having made a significant political transition, the country and its people are now adjusting to...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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