SINGAPORE: There would be no need for stimulus measures in Singapore this year, Senior Minister of State for Trade and Industry S Iswaran said in parliament on Monday.
In fact, he said Singapore would need to be watchful of over-heating risks and rising inflationary pressures as the labour market tightens and capacity constraints become more binding.
Over-heating follows
a prolonged period of good economic growth leading to higher levels of
inflation, which could adversely impact economic prosperity.
Mr
Iswaran added that expected growth of four to six per cent for this year
would still be above the government's medium-term growth potential
estimate of around three to five per cent per annum.
The single
digit growth would follow last year's double digit GDP growth of almost
15 per cent, which Mr Iswaran called "exceptional and therefore not an
appropriate indication of Singapore's longer term growth potential".
Going
forward Mr Iswaran said with the economy at "full employment", the
emphasis would be on raising workforce productivity and increasing
economic competitiveness over the medium term.
-CNA/wk
more wayang from PAP to con people that 14% growth wasn't bullshit..............
economy never grow only inflation so what overheating to talk about !