Singapore Prime Minister Lee Hsien Loong today said the country's economy grew 3.5 per cent in the first half of this year, bringing the growth forecast for the rest of the year to between 2.5 per cent and 3.5 per cent.
Earlier official forecast was between 2 and 4 per cent economic growth for Singapore, rated as Asia's top financial centre and linked to global businesses, trade and commerce.
Lee, in his message on the eve of National Day tomorrow, pointed out the globalised world offers many opportunities for the bold and enterprising. But it also makes people uncertain and anxious about their future.
"Events overseas affect us quickly and unpredictably, such as political changes in Southeast Asia, maritime disputes in the South China Sea, or armed conflicts in Gaza and Ukraine," said Lee.
Lee also assured Singaporeans of their future and long- term prospects here.
"Our system will help you shoot for the stars. Everyone will have full opportunities to fulfil your potential, regardless of your family background or circumstances."
The Prime Minister said education was a big part of achieving this. To that end, a committee tasked with reviewing polytechnic and Institute of Technical Education studies was expected to announce its recommendations to help young Singaporeans acquire the relevant skills, to succeed in a constantly changing, economic environment.
"You are talented, passionate and confident. You deserve to chase your dreams and be the best you can be. The academic route is not the only way up. We will also help you upgrade yourselves while you work.
"We will help you master specialised skills, and earn advanced qualifications as you progress in your careers," Lee assured young Singaporeans.
Lee emphasised the importance of social values. "As Singaporeans, we must judge a person not just by his educational qualifications but also by his skills, contributions and character. This is how we keep Singapore a land of hope and opportunity for all."
For retired citizens, the Prime Minister said his team was studying how to enhance retirement adequacy and make it more convenient for retirees to get cash out of their state-built apartments, in a prudent and sustainable way.
Currently, Lease Buy back scheme for apartment, is one monetisation option to help low-income elderly households unlock part of their housing equity, and receive a lifelong income stream to supplement their retirement income.
Singapore celebrates its 49th National Day tomorrow.
