SINGAPORE, Sept 19 ― Singapore’s challenge is to find a way to keep its economy energized and sustainable for the next 10 to 15 years, with low single-digit growth expected to be considered a good performance in the future, Prime Minister Lee Hsien Loong said today.
“We have to think how we can continue to keep the economy powered and energised at a time when 2 to 3 per cent growth, or if you can a little bit more than that, will be a good performance,” Lee said at conference held in the city-state. He said he would push aggressively for leadership succession when his newly re-elected ruling party forms the next cabinet.
The People’s Action Party, led by Lee, boosted its share of the popular vote in Singapore’s September 11 parliamentary election and now faces the challenge of a softened economic outlook as growth forecast for this year was trimmed after GDP shrank last quarter. ― Bloomberg
