SG forecast 2009 GDP -5.0 to -2.0 per cent.
http://app.mti.gov.sg/data/article/17221/doc/PrelimGDP_4Q08_PR.pdf
Opposition Parties are happy to read this.
They have more ammo to shot to PAP.
But we have much more resoucres to deal with crisis.
Eg national reserve etc.
I have told u why SG is the first country in asia ran into
recession.
The reason is SG were growing much faster than other developed
countries.
We are decribed growing at developing country rate.
Country A has been growing at a faster rate than country B.
This is possible that A runs into so called technical recession
but
A's GDP is still higher than B!!
http://www.sgforums.com/forums/10/topics/334051?page=3
Do u guys how to define recessions?
This is slower GDP
"growth is negative for two or more consecutive
quarters."
Let us see this example:
Real figures,annual GDP
growth
Quarter...SG......aussie
2007
3Q--........9.5
4Q--.......5.4
2008
1Q..........7.0.......3.6
2Q..........2.3........1.9
3Q.........--0.5..........4.3
so SG is in recession,technically.while Oz is not!!
@@@@@@@@@@@@@'''
Anyway,all these rates are small matter.
SG GDP per capita is 33% higher than Australia.
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2004rank.html
Singapore $ 49,900 2007 est.
Australia $ 37,300 2007 est.
