Reuters - 11 Jan, 2010
SINGAPORE, Jan 11 (Reuters) - The Singapore government said on Monday it expects unemployment to stay high for some time and growth momentum to slow in the second half of this year, though the risk of a double-dip recession is low.
"The risk of a return to recession is low in the absence of further financial shocks," Minister for Trade and Industry Lim Hng Kiang told parliament.
"But growth momentum in the second half of 2010 may slow down."
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Shall wait and see if Lim Hng Kiang said is true.
What a joke
not long ago they mentioned doing better
so going to increase their million salaries
now say different thing
Originally posted by noahnoah:
What a joke
not long ago they mentioned doing better
so going to increase their million salaries
now say different thing
hahah, they are always like that. Nothing new. Like that how to vote for them?
Cos the economy estimates to contract by 9.99%?
if contract by 9.99%, still got 90.01% expansion ya. Not bad liao...
Originally posted by angel7030:if contract by 9.99%, still got 90.01% expansion ya. Not bad liao...
Originally posted by Miracles&Prophecies:
? ? ?
A GDP contraction means your country is producing less goods and services than last year which implies a slowdown i.e contraction in economy. A contraction means there's no growth or in other words a negative growth.
you believe in that GDP figures from MIT ar??? base on what they get that figure leh?? today, they said contracted, tomollow they said expand, next quarter they said growth, then next month they said lost...you still dun get the picture, don't you??, me young young already knows what they are trying to do, in a big nutshells, they can call and massage the GDP as they like, just like Delong Delong pasar malam sale ya.
Job lost or pay cut do not directly be influence by GDP, if today civil servants and ministers are feeling the heat of inflation, GDP will rise, they will get more wage increases and bonuses, thereby reduced the inflation, once they get enuf already, they will declare GDP contraction, thereby wanting people to work harder. Job lost and pay cut is mostly due to capitalisaton gain/lost, remember the cheap, better and fast theory or not??
At the current moment, companies in singapore are getting Job credits fund from the govt to continue employing singaporean workers. This fund is to help companies to tide over the last year crisis, which account to billions, each companiy get average 1 million depending on the size and the nos of Singaporeans employed. This credit fund was extended for another half year, when it cease by june 2010, you will see lots of more job lost and pay cut, no matter what the GDP figure is..
????
double plunge is very likely, with COE of car constraining, Job credit and govt intervention ceasing, property markets bubbling till boiling point, you can feel the atmosphere heating up.
MAS reduce/maintaining interest rate will help to juvenate the shares markets, which is also another pointer in our economy growth, from the words of LKY saying that properties in next few years will be much much more worthy than now, peoples are scrambling to borrowing at low rate to buy properties, just buy it, careless about what happen tomorrow, but property is a domestic market, borrowing is subject to banks interest rate up and down, and banks deal with external enviroment, and when external enviroment goes bust, banks will increase the rate leading to people having to pay more, and if you can afford a landed property or condo, you get no or less relief from govt. So, in the end, it is a time bomb.