• IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here.

    The OTHER forum is HERE so please stop asking.

Serious Good PM Lee's 2023 May Day Speech, "No Recession For Sinkies In 2023!" Majulah PAP!

JohnTan

Alfrescian (InfP)
Generous Asset
pm-lee-may-day.jpg



Singapore expects to see slower growth in 2023, but should avoid an outright contraction, Prime Minister Lee Hsien Loong said in his May Day message.

While inflation is still high, there is some hope that it will moderate in the second half, he added.

Meanwhile, unemployment rates have stayed low and retrenchment rates have remained manageable.

Overall, Singapore can be "cautiously optimistic" about its immediate economic prospects, PM Lee highlighted.

Economy continues to recover as it emerges from Covid-19 pandemic
The Prime Minister pointed out that Singapore's economy has continued to recover, following the country's emergence from the Covid-19 pandemic.

In 2022, Singapore's Gross Domestic Product (GDP) grew by 3.6 per cent, he noted.

Sectors that were badly affected by the pandemic are "recovering rapidly", PM Lee stated, with tourism and hospitality establishments back in business.

In addition, passenger traffic at Changi Airport has reached around 80 per cent of pre-pandemic levels, and will rise further as international connectivity is progressively restored, he said.

External environment remains volatile
The external environment remains volatile and fraught with "serious" geopolitical tensions however, according to the Prime Minister.

There is a risk of recessions in Western countries, as central banks continue raising interest rates to dampen inflation. The multilateral trading system is also being progressively undermined by growing nationalist and protectionist sentiments, affecting international trade and cooperation.

At the same time, emerging industries such as in the green and digital domains, and new technologies like artificial intelligence, will disrupt economies around the world, PM Lee highlighted.

Singapore must therefore respond to these trends by adapting and buffering those who are adversely affected, he added.

"Singapore’s survival depends on us staying open and doing business with the world," he said.

This means continually transforming Singapore's industries, enhancing existing capabilities and building new ones as the country moves into growth markets, the Prime Minister elaborated.

While this will cause disruptions to some existing jobs, it will simultaneously create new jobs with better prospects for the future, he said.

Singapore is making good progress on training and upgrading workers
PM Lee then said that he was "happy" to see that Singapore's worker training and upgrading programmes are progressing well.

These initiatives are helping many workers to upskill and reskill, to be ready to seize opportunities in the new economy.

Employers are also making the effort to maximise the potential of their workforce, he added, by providing training opportunities and encouraging their workers to take them up.

"More and more employers are accommodating the changing needs of workers, such as by implementing flexible

work arrangements and redesigning jobs for older workers."

Such moves help to retain talent and improve productivity.

As for the government, it has made progress uplifting vulnerable workers via the Progressive Wage Model.

https://mothership.sg/2023/04/pm-lee-may-day-message/
 

ChinaCommunistSG

Alfrescian
Loyal
Singapore will have no recession because pap already increased gst. It is gst which helps to accelerate our economy to be on par with Swiss
 

Byebye Penis

Alfrescian
Loyal
nice photo, just those on right side a bit gay. They should spend more time with their families on a labour rest weekend.
 

ftan42

Alfrescian
Loyal
started with the first stage of inflation will be followed by deflation then stagflation and the last stage of recession
 

in3deep

Alfrescian
Loyal
@JohnTan what does your insider source say on when Pinky Lee is going to handover to LW and who is the candidate for president elections?
 
Top