31 Dec '11, 11am

Singapore needs to be confident and clear about its priorities: PM Lee: SINGAPORE - Singapore's economy grew 4.8...

Singapore needs to be confident and clear about its priorities: PM Lee: SINGAPORE - Singapore's economy grew 4.8...

AsiaOne, Reuters Saturday, Dec 31, 2011 SINGAPORE - Singapore's economy grew 4.8 per cent in 2011, Prime Minister Lee Hsien Loong said on Saturday, indicating the city-state's gross domestic product (GDP) contracted sharply during the last three months of the year. "We achieved steady growth of 4.8 per cent this year," Lee said in his New Year message. The 4.8 per cent growth figure for the whole year cited by Lee suggests the Singapore economy contracted by around 10 per cent in the fourth quarter on an annualised, seasonally adjusted quarter-on-quarter basis. "The external environment is uncertain. Debt problems in Europe are far from solved. Next year looks like being difficult for the global economy. As a small, open country, Singapore will inevitably be affected," he added. He continued: "Amidst this flux, we need to be confident of our position, and clear about our p...

Full article: http://www.asiaone.com/News/Latest%2BNews/Singapore/Story...

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