Refishowcase Business & Finance

Prime Minister of Singapore Lee Hsien Loong said if the economy has been the Merlion Affairs in 2009 and subside. The economy improved after the economic turmoil hit the Singapore for the first time since 2001.

Thus the statement Lee Hsien Loong in the year’s final report, as published by Bloomberg, on Saturday (2/1/2009).

Gross domestic product (GDP) “only” down 2.1 percent in 2009 and then. The numbers are in line with the initial estimate of 2.5 percent. Singapore Trade Minister memperkiraan economy grows between three and five percent in 2010.

“Our economy growing again, and had recovered since the recession began in 2008,” said Lee. “In the whole world, the economy has stabilized. The U.S. economy, Japan, and Europe, began to grow again, although there remains the problem turmoil and no one expects a snap back there,” he added.

Just FYI, Singapore has disbursed $ 1 trillion stimulus funds, in order to save the economy. This step was also taken other countries in Asia.

Earlier, former Prime Minister of Singapore Lee Kuan Yew said that Singapore’s economic growth will grow approximately three percent in 2010 after having experienced the worst recession this year.

Lee (86) who is now an advisor in the Cabinet of his son, Prime Minister Lee Hsien Loong, Singapore warned citizens not to expect a high growth rate in fast time. That is because the country is highly dependent Lions on export activities to the rich countries.

“We will continue high growth for several years until the world’s major economies have recovered,” said Lee, who holds the title of minister mentor, as quoted by the AFP, Monday, November 9th ago