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Singapore not preparing for ’green shoots’ recovery
Channel NewsAsia - Wednesday, April 22
SINGAPORE: Prime Minister Lee Hsien Loong has played down the possibility of the Singapore economy beginning to show ’green shoots’, a phrase that has cropped up of late among analysts and investors who share the view that the worst of the global recession is over.ADVERTISEMENT
Speaking to reporters on the sidelines of an industrial visit, PM Lee said that while he hopes the ’green shoots’ predictions are right, he is preparing the Singapore economy on the basis that recovery will still take some time.
"I’m not planning that the problem will soon be over and therefore we can just wait for it to pass. The problem will be with us for some time, we must work at it, we must make sure that we prepare our people so that they can be as employable as possible and can endure through this downturn and if it lasts sooner than ever in a green shoot sprout, well, that’s a bonus," he said.
Mr Lee also said the 6 to 9 per cent economic contraction forecast for Singapore is a realistic one for now.
— 938LIVE.
Singapore not preparing for ’green shoots’ recovery
Channel NewsAsia - Wednesday, April 22
SINGAPORE: Prime Minister Lee Hsien Loong has played down the possibility of the Singapore economy beginning to show ’green shoots’, a phrase that has cropped up of late among analysts and investors who share the view that the worst of the global recession is over.ADVERTISEMENT
Speaking to reporters on the sidelines of an industrial visit, PM Lee said that while he hopes the ’green shoots’ predictions are right, he is preparing the Singapore economy on the basis that recovery will still take some time.
"I’m not planning that the problem will soon be over and therefore we can just wait for it to pass. The problem will be with us for some time, we must work at it, we must make sure that we prepare our people so that they can be as employable as possible and can endure through this downturn and if it lasts sooner than ever in a green shoot sprout, well, that’s a bonus," he said.
Mr Lee also said the 6 to 9 per cent economic contraction forecast for Singapore is a realistic one for now.
— 938LIVE.
