PM Urged Citizens Not To Panic
Monday, 30th January 2012
Prime Minister Lee Hsien Loong said that the Singapore Government is watching closely for signs of an expected economic slowdown and will prepare the upcoming Budget accordingly. The impending down turn due to the European Debt Crisis may not be as severe as the 2008 Financial Crisis. He urged the citizen not to panic and to stay prudent. On that positive note, the Singapore Stock Market shot up more than 10% in the first month of trading since the beginning of the year, and into the new "Dragon Year" in the Lunar Calendar - Huat Ah!.