The initial signs are positive that Singapore ’s economy will do better in the year of the Dragon , despite some uncertainties in the external environment, said Prime Minister Lee Hsien Loong on Feb 9.
Sectors such as construction, retail, and food and beverages are looking up, with many construction projects in the pipeline, as well as more flights and Striking a cautiously optimistic note as he spoke to reporters at the sidelines of a visit to Ng Teng Fong General Hospital, PM Lee said the economy should be able to rebound. “Growth was not quite as high as we would have liked (in 2023), but it has been a steady year and we avoided a recession. Next year, meaning 2024, we hope will be stronger than 2023,” he said. The economy grew 1.2 per cent overall in 2023, with growth in the fourth quarter coming in at 2.8 per cent, a sharp increase from the 1.1 per cent in the third quarter.Much also hinges on how uncertainties in the external environment will play out, said PM Le
Singapore Economy Dragon Construction Retail Food And Beverages Growth Optimism