THE TEMASEK TIMES

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Tharman: We are not doing ‘too badly’ as of now

Posted by temasektimes on August 11, 2012

Singapore needs to take a medium to long term view of the economy and keep focused on being competitive, said Deputy Prime Minister Tharman Shanmugaratnam.

Speaking on the sidelines of a community event, Mr Tharman noted that Singapore’s growth forecast for this year is narrowed to between 1.5 and 2.5 per cent, from 1 to 3 per cent.

“We’ve got to keep our minds focused on building competitive strengths for the medium to long term…skills, capabilities, making sure that investments in new growth areas do come in. And we’re not doing too badly from that regard,” he added.

Mr Tharman said that despite the uncertain economic outlook, investor interest in Singapore is still ‘very strong’ because they see us as a ‘system’ that works well together.

“Everything – from the education system, the trading system as well as the way in which our industrial strategies are organised – it’s still a big plus for Singapore.” 

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6 Responses to “Tharman: We are not doing ‘too badly’ as of now”

  1. THANK YOU said

    I guess those who benefit from the prosperous and growth are the rich, ministers and top civil servants. Well done for bringing us to what we are today.

    • Derrick Boh said

      Why Government public debts hit above 100%/GDP?

      118.2% of GDP (2011 est.)
      112.4% of GDP (2010 est.)
      note: for Singapore, public debt consists largely of Singapore Government Securities (SGS) issued to assist the Central Provident Fund (CPF), which administers Singapore’s defined contribution pension fund; special issues of SGS are held by the CPF, and are non-tradable; the government has not borrowed to finance deficit expenditures since the 1980s information below website;

      https://www.cia.gov/library/publications/the-world-factbook/fields/2186.html

  2. P Koh said

    “Everything” is the wrong choice of word. Many things are still not alright especially the plight of the poorer Singaporeans who are finding it very difficult to survive especailly those who cannot keep up with the cost of housing. Rentals of HDB have shot through the roof and their meagre income cannot even help to sustain this hike. Please look at this issue with a greater sense of priority and stop patting oneself on the back and open your eyes to see that “uncertain outlook” is actually “untenable outcry” and the sooner this is fixed the better the credibility of the ruling party in looking after the welfare of the needy.

  3. Derrick Boh said

    As at May 2012, There are still 237 billion in reserve plus almost 330 billion in GIC and 145 billion in temasek.
    The question: 1) which portion that requires the President’s approval?
    2) why wasn’t part of the profits from GIC and Temasek being transfer to our reserve?

    Information from below website:

    http://en.wikipedia.org/wiki/List_of_countries_by_foreign_exchange_reserves

    http://en.wikipedia.org/wiki/Foreign_exchange_reserves

    Government public debts already cross the safety line of 100%,why was it so?

    118.2% of GDP (2011 est.)
    112.4% of GDP (2010 est.)
    note: for Singapore, public debt consists largely of Singapore Government Securities (SGS) issued to assist the Central Provident Fund (CPF), which administers Singapore’s defined contribution pension fund; special issues of SGS are held by the CPF, and are non-tradable; the government has not borrowed to finance deficit expenditures since the 1980s.

    Information from below website:

    https://www.cia.gov/library/publications/the-world-factbook/fields/2186.html

    Singaporeans should know, after all the Minister for HDB reminded Singaporeans to spend with-in their mean, to regain the trust from all Singaporeans, Government should set the example.

  4. Samuel said

    Every time Thamran says something it becomes obvious he still has a lot “catching up” to do on what is really hapening in Singapore. He should not just act like a puppet and just continue to “sell” PAP propaganda.

  5. Derrick Boh said

    I went for an interview at SMRT HQ and met a guy there, age around early 40’s, we chatted and he told he had gone for the skills up grading course and pass with qualification, when he went for few interviews but was told he was too old, finally decided to try his luck apply for a job in SMRT as Air-con Technician.

    I wondered what good does it make to up grade skills when senior management and bosses don’t accept those above 40’s and looks like they prefers FT/FW.

    Those are some of the hard facts at ground zero, where Government know or or may not know it happened,

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