Today-Jan 21
Even as Singapore is likely to avoid a recession this year, there are still “many dark clouds” around the world, and Singapore will need to make the most of its advantages to weather this storm, said Prime Minister Lee Hsien Loong on Saturday (Jan 21). “If you look around the world, (there are) so many dark clouds outside us, around us, and we need to distinguish ourselves and make the most of our advantages to keep ourselves safe,” he said. “I think this year, the Year of the Rabbit, I have every confidence we will be able to do that.” Mr Lee was speaking to journalists on the sidelines of a Chinese New Year’s eve visit to the Woodlands Integrated Transport Hub bus interchange.
He also noted that it is the first Chinese New Year since the start of the pandemic where things are “back to normal”. Speaking in Mandarin, Mr Lee said that in 2023, global uncertainties are expected. “We are expecting growth to be slower due to possible recession in developed countries,” he said. “We should be able to avoid this recession, but we will still have to look at China and how they resume activities.” At the interchange, Mr Lee spoke to transport workers, including bus captains and administrative staff, to thank them for their service during the Chinese New Year period. Asked about what feedback he had received from the transport workers, Mr Lee said that salary was an issue raised. “Speaking to the bus drivers earlier, they said the economy is better, (but) maybe their pay should also increase.” “Of course, we wish to do that too, but we must also look at the economic situation.” Read more at: https://www.todayonline.com/singapore/dark-clouds-loom-possible-recession-developed-countries-spore-should-be-able-avoid-same-fate-pm-lee-2095196
