Singapore celebrates the national day on Friday, with good news
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Singapore's economy is likely to grow faster than expected this year, Prime Minister Lee Hsien Loong said in his annual National Day message.
The city-state has revised its gross domestic produce (GDP) forecast for the year upwards to 2.5 to 3.5 per cent, after recording growth of 2 per cent in the first half of the year. The full-year figure was previously forecast at 1 to 3 per cent.
"The economy is holding steady amidst global uncertainties. We are attracting more quality investments. Unemployment remains low," Lee said in his National Day message on Thursday evening.
"Even as we tighten up on foreign workers and immigration, we must maintain investor confidence and keep Singapore open for business."
Singapore celebrates its 48th National Day on Friday with anannual military parade, a fly-past and other events. It has celebrated the day every year since it was expelled from Malaysia onAugust 9, 1965.
