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Singapore: Incomes Can Only Rise If Economy Grows as a Whole
Source: channelnewsasia.com
Source Date: Friday, June 08, 2012
Focus: Electronic and Mobile Government, Internet Governance
Country: Singapore
Created: Jun 12, 2012

SINGAPORE: Prime Minister Lee Hsien Loong said incomes can only rise if the Singapore economy is growing as a whole.

Mr Lee was speaking at the Economic Society of Singapore's annual dinner on Friday evening.

Responding to a question about the challenges facing Singapore in the future, Mr Lee said there is no country in the world where the population gets smaller and incomes rise at the same time.

Therefore, Singapore needs to have an inflow of talent and people for continued growth.

"We need to maintain that spirit of being exciting, of being welcoming, of being open and adventurous... at a time when there are constraints to our size... when our population is growing gradually less young and therefore perhaps less adventurous... that's the challenge," said Mr Lee.
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