Singapore’s economic growth next year could be slower than the estimated 3 percent expected this year, former prime minister Goh Chok Tong (吳作棟) said.
Goh, now a ranking senior minister in the government, was quick to assure that the government was looking at how to help Singaporeans overcome temporary economic hardship next year.
“The government is already thinking about what it can do to help businesses and ordinary Singaporeans — in particular lower income Singaporeans — next year,” the Channel News Asia quoted Goh as saying on Saturday.
Goh expressed his confidence in the city-state’s current diversified economy and strong economic fundamentals, hoping the economy would bounce back if Singaporeans stick together.
He also reassured Singaporeans on the government-initiated efforts to help those hit by the mini-bond investments related to the failed Lehman Brothers.
Goh said the central bank had been reassured that the banks and financial institutions would be helpful. In the case of doubt, he said, officials would try to settle in favor of the investor.
Goh said the Monetary Authority of Singapore had been quietly working with the banks and financial institutions to find a fair solution for people who have invested in the structured products of Lehman Brothers.
GROWING CONCERN: Some senior Trump administration officials opposed the UAE expansion over fears that another TSMC project could jeopardize its US investment Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is evaluating building an advanced production facility in the United Arab Emirates (UAE) and has discussed the possibility with officials in US President Donald Trump’s administration, people familiar with the matter said, in a potentially major bet on the Middle East that would only come to fruition with Washington’s approval. The company has had multiple meetings in the past few months with US Special Envoy to the Middle East Steve Witkoff and officials from MGX, an influential investment vehicle overseen by the UAE president’s brother, the people said. The conversations are a continuation of talks that
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