DPM Teo says Singapore is on steady growth path

Deputy Prime Minister Teo Chee Hean believes that Singapore’s economy will grow steadily in the coming year but warned of uncertainties in other countries which could impact Singapore.

He cited concerns in regions and countries such as Europe, Japan and the United States, which have a domino effect on the global economy.

Currently, the US’ government budget has not been agreed upon, causing its currency and rates to be uncertain in the domestic and international markets, he said.

In addition, the crisis in European countries such as Greece and Portugal have not yet been resolved and Japan is still recovering from March’s natural disasters.

Mr. Teo also said the recent Norway tragedy reminded Singaporeans of the importance of unity.
 
“You can see the way the Norwegian people worked together to unite and overcome this crisis. We can learn something from them so that first of all, to prevent any crisis from happening, remain united.”

“Secondly, if anything does happen, we must also be able to overcome it with a positive spirit, so that society does not break apart and continue to remain together,” said the MP for Pasir Ris-Punggol Group Representation Constituency (GRC).

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