Singapore

PM Lee reassures Singapore in New Year message

In his New Year's Day message on Facebook, Emeritus Senior Minister Goh Chok Tong said he did not feel at ease about 2017.

He listed concerns over the US, Chinese and Japanese politics, as well as technological disruption and slowing global economic growth.

But he encouraged Singaporeans to "keep our chin up" and wished all a "happy New Year with family and loved ones".

In his New Year's Day message, Prime Minister Lee Hsien Loong said Singapore's economy is expected to have grown by more than 1 per cent last year, lower than initial forecasts.

Yet the Republic is "not doing badly" considering the global uncertainty, he added, noting that despite the easing off in demand for workers, unemployment remains low, and jobs are still being created.

The Government had narrowed its growth forecast for 2016 to between 1 per cent and 1.5 per cent. It expects growth to be between 1 per cent and 3 per cent this year.

The slowing economy has cast a pall of gloom over many employers and workers.

Mr Lee also reassured Singaporeans that measures are being taken to map new ways to boost the economy and help out-of-work Singaporeans.

"Rest assured, the Government is watching (the situation) closely," he said.

pm leeEconomyemployment