atans1

IMF affirms support for PAP policies

In Economy on 17/07/2019 at 4:54 am

True, its lowered its guess-estimate for this yr’s growth to 2% from 2.3% (made in May), but eat yr heart out Mad Dog, Lim Tean and other nutty anti-PAP types.

It said “investment is expected to pick up on digitalisation” and as businesses adopt new technologies.  “Over the medium term, growth should stabilize around 2.5 per cent, increasingly driven by modern services alongside other trade-related sectors.”

Vote wisely.

Reminder: How bad things are

On a quarter-on-quarter seasonally adjusted annualised basis,  GDP contracted by 3.4%, way below the median forecast of 0.1% in a Reuters poll. This was a reversal from the 3.8% growth in the previous quarter and marked the worst quarter-on-quarter performance since the third quarter of 2012. The economy also registered its lowest growth in a decade, expanding just 0.1% on year in the second quarter, missing a forecast rise of 1.1%.

“Only cold spell coming, but not Winter,” says Heng

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