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Coffee Shop Talk - PM Lee: cannot pump-prime economy </TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">SGNEWSALTF <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">6:43 am </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 4) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>14454.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Singapore PM says cannot pump-prime economy - report
SINGAPORE, Nov 26 (Reuters) - Singapore will not be able to 'pump-prime' its economy in the same way as other countries, because the openness of the economy meant money would go overseas, the Business Times newspaper cited the city-state's prime minister as saying.
Prime Minister Lee Hsien Loong told businessmen in Brazil that Singaporeans spent much of their money on imported goods, so policy could not follow bigger economies where consumption can be boosted through financial rescue packages.
'However, in Singapore, if people spend money, most of it goes overseas because we are so open,' the Business Times quoted Lee as saying.
Lee, in Brazil after an Asia-Pacific Economic Cooperation (APEC) meeting in Peru, said January's budget would introduce 'strong measures', but he gave no
details.
The country's finance minister said earlier this month the budget would be expansionary to help tide Singapore through a downturn that has already seen it fall into recession.
(Reporting by Neil Chatterjee; Editing by Dhara Ranasinghe) Keywords: SINGAPORE ECONOMY/ ([email protected], +65 6403 5677)
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My wife needs the $ to pump USA lah!</TD></TR></TBODY></TABLE>
SINGAPORE, Nov 26 (Reuters) - Singapore will not be able to 'pump-prime' its economy in the same way as other countries, because the openness of the economy meant money would go overseas, the Business Times newspaper cited the city-state's prime minister as saying.
Prime Minister Lee Hsien Loong told businessmen in Brazil that Singaporeans spent much of their money on imported goods, so policy could not follow bigger economies where consumption can be boosted through financial rescue packages.
'However, in Singapore, if people spend money, most of it goes overseas because we are so open,' the Business Times quoted Lee as saying.
Lee, in Brazil after an Asia-Pacific Economic Cooperation (APEC) meeting in Peru, said January's budget would introduce 'strong measures', but he gave no
details.
The country's finance minister said earlier this month the budget would be expansionary to help tide Singapore through a downturn that has already seen it fall into recession.
(Reporting by Neil Chatterjee; Editing by Dhara Ranasinghe) Keywords: SINGAPORE ECONOMY/ ([email protected], +65 6403 5677)
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My wife needs the $ to pump USA lah!
