Tag: Singapore economy

Trade-reliant Singapore faces a “troubled” future, with ties between countries weakening

Singapore—On Sunday (June 7), Prime Minister Lee Hsien Loong addressed the nation, calling the fight against the coronavirus pandemic “the crisis of a generation,” and telling the public to be ready “for a very different future.” This future, he warned, would likely be a “less...

PSP’s Kumaran Pillai: “Is the $93B pumped into the economy adequate?”

Singapore—Kumaran Pillai, a member of the Progress Singapore Party (PSP), has weighed in on the economic fallout Singapore faces stemming from the current coronavirus pandemic. At the same time, Mr Pillai also offered possible solutions for the country's economic recovery. Mr Pillai, CEO of Apple...

Lawrence Wong: Economy could fully reopen sooner than expected

Singapore — If no surge in Covid-19 cases occurs after circuit breaker restrictions begin to be lifted on June 2, the country's economy could fully reopen sooner than expected, according to National Development Minister Lawrence Wong. Mr Wong, who co-chairs the multi-ministry task force on...

Chan Chun Sing: Faster economic recovery depends on rapid test kits and vaccine

Singapore — The speed of economic recovery depends on how available rapid test kits would be and the development of a vaccine, said Trade and Industry Minister Chan Chun Sing in an interview with Bloomberg Television on Wednesday (May 20). He said: "If either one of these or...

Full-year recession inevitable, says DBS economist

With the world's economies experiencing tension amid the uncertainty brought about by the Covid-19 pandemic, a senior DBS Bank economist has pointed out that things are not looking good for Singapore either and that a full-year recession "appears inevitable". In a research note on Thursday (March...

SG Budget 2020: Analysts estimate Covid-19 relief package of S$700m

Singapore—The national Budget is scheduled to be announced on Tuesday (Feb 18) with analysts expecting that a virus relief package of at least S$700 million will be included. A senior economist at DBS, Irvin Seah, has been quoted by Reuters as saying, "The latest...

Chan Chun Sing: Singapore’s workforce needs right balance of local and foreign manpower

Singapore— Minister for Trade and Industry Chan Chun Sing said in Parliament on Tuesday (Feb 4) that the country’s workforce needs the ‘right mix’ of local and foreign manpower in order to "punch above our weight.” For this to happen, he added, requires consistent fine-tuning. “To...

Wuhan virus outbreak will affect Singapore’s economy this year: Chan Chun Sing

Singapore — The Wuhan novel coronavirus that has affected more than 2,700 people, killed over 80 and spread to several nations will have a negative impact on Singapore's economy this year, according to Trade and Industry Minister Chan Chun Sing. Mr Chan said this at...

PM Lee says 2020 Budget will be “strong, and suitable to the state of the world”

Singapore—At the tail end of his visit to South Korea for the ASEAN-Republic of Korea (ROK) Commemorative Summit, Prime Minister Lee Hsien Loong took a few minutes to talk to the press about next year’s national Budget, saying it would be “strong, and suitable...

Singapore economy experiences growth but less than what was predicted by economists

Singapore was able to veer away from a technical recession as its economy grew by 0.1% in the 3rd quarter, the Ministry of Trade and Industry announced Monday (Oct 14). However, the growth was below the 0.3% that was foreseen by economists in a previous...