<TABLE border=0 cellSpacing=0 cellPadding=0 width=591><TBODY><TR><TD class=newstitle width=262>Singapore News</TD><TD class=newstitle vAlign=bottom width=329 colSpan=3 align=right><TABLE border=0 cellSpacing=0 cellPadding=0 width=323><TBODY><TR><TD width=141 align=right><FORM style="DISPLAY: inline" id=formComment1 method=post name=formComment1 action=/discussion/comments.php><INPUT src="http://www.channelnewsasia.com/images/b_comment.gif" width=68 height=17 type=image> <INPUT id=storyid value={story_id} type=hidden name=storyid> <INPUT id=storytitle value="Singapore's economic outlook dependent on external economies" type=hidden name=storytitle> <INPUT id=storyurl value=/stories/singaporelocalnews/print/444822/1/.html type=hidden name=storyurl> </FORM>
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By Desmond Wong, Channel NewsAsia | Posted: 26 July 2009 1822 hrs
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Tharman Shanmugaratnam</TD></TR><TR><TD> </TD><TD class=update> </TD></TR><TR><TD> </TD><TD><TABLE style="BACKGROUND-COLOR: #cccccc" border=0 cellSpacing=0 cellPadding=0 width=240><TBODY><TR><TD vAlign=top width="100%"><TABLE border=0 cellSpacing=1 cellPadding=0 width="100%"><TBODY><TR style="BACKGROUND-COLOR: #ffffff"><TD><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD class=topic vAlign=top> Video </TD></TR><TR><TD bgColor=#cccccc vAlign=top>
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</TD><TD class=bodytext vAlign=top width="60%" align=left>Singapore's economic outlook dependent on external economies</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR><TR><TD vAlign=top background=images/dotline_240.gif align=left>
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SINGAPORE: Singapore's economic outlook is still dependent on other major economies like the US and Europe.
This is despite the 20 per cent improvement in GDP in the second quarter of this year, said Finance Minister Tharman Shanmugaratnam.
And he said community development councils (CDCs) can do their part by helping to ease Singaporeans through difficult times.
He said: "Although we had a good second quarter - the second quarter of 2009 was a quarter with much better GDP growth compared to the previous two quarters where we saw a very deep contraction - the outlook for the future is basically determined by the US, Europe and the rest of Asia."
Speaking at the South West district meeting, Mr Tharman said it was during these difficult times that CDCs can step in.
One example is the South West CDC's efforts to help the people in its district.
Mr Tharman said: "There has been a 50 per cent increase in the number of social assistance applications since the start of the economic crisis. And despite the 50 per cent increase in volume, the CDC has been able to process 98 per cent, which is almost 100 per cent, of the cases within six weeks."
One of the CDC's new initiatives is ClicktoAid.sg.
This is a charity internet portal that allows people to play education games, while gaining a score that will be converted to donations by the scheme's partners.
- CNA/yt
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By Desmond Wong, Channel NewsAsia | Posted: 26 July 2009 1822 hrs
<TABLE border=0 cellSpacing=0 cellPadding=0 width=260 align=right><TBODY><TR><TD width=20 align=right> </TD><TD width=240 align=right>
Tharman Shanmugaratnam</TD></TR><TR><TD> </TD><TD class=update> </TD></TR><TR><TD> </TD><TD><TABLE style="BACKGROUND-COLOR: #cccccc" border=0 cellSpacing=0 cellPadding=0 width=240><TBODY><TR><TD vAlign=top width="100%"><TABLE border=0 cellSpacing=1 cellPadding=0 width="100%"><TBODY><TR style="BACKGROUND-COLOR: #ffffff"><TD><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD class=topic vAlign=top> Video </TD></TR><TR><TD bgColor=#cccccc vAlign=top>
</TD><TD class=bodytext vAlign=top width="60%" align=left>Singapore's economic outlook dependent on external economies</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR><TR><TD vAlign=top background=images/dotline_240.gif align=left>
SINGAPORE: Singapore's economic outlook is still dependent on other major economies like the US and Europe.
This is despite the 20 per cent improvement in GDP in the second quarter of this year, said Finance Minister Tharman Shanmugaratnam.
And he said community development councils (CDCs) can do their part by helping to ease Singaporeans through difficult times.
He said: "Although we had a good second quarter - the second quarter of 2009 was a quarter with much better GDP growth compared to the previous two quarters where we saw a very deep contraction - the outlook for the future is basically determined by the US, Europe and the rest of Asia."
Speaking at the South West district meeting, Mr Tharman said it was during these difficult times that CDCs can step in.
One example is the South West CDC's efforts to help the people in its district.
Mr Tharman said: "There has been a 50 per cent increase in the number of social assistance applications since the start of the economic crisis. And despite the 50 per cent increase in volume, the CDC has been able to process 98 per cent, which is almost 100 per cent, of the cases within six weeks."
One of the CDC's new initiatives is ClicktoAid.sg.
This is a charity internet portal that allows people to play education games, while gaining a score that will be converted to donations by the scheme's partners.
- CNA/yt
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