SINGAPORE: Singapore is willing to accept slower growth as a trade-off for social stability as it aims to keep down the number of foreigners working in the city-state, Finance Minister Tharman Shanmugaratnam told Reuters.
Over the past decade, Singapore's economy has expanded by a 6.4% annual average. But Tharman said that he would be happy if Singapore grew 3% a year, as long as growth was driven mainly by gains in productivity.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!