The Malaysian Insider, 17 Nov 2008
SINGAPORE, Nov 17 - Growth next year could slide into negative territory, so the Singapore government is keen to put its cushions and boosters in place as quickly as possible. This includes advancing the 2009 Budget by one month to January.
This radical step was announced yesterday by Prime Minister Lee Hsien Loong while addressing a PAP (People's Action Party) party conference at the Toa Payoh Sports Hall. Advancing the Budget would enable the government to implement its counter-measures against the crisis as quickly as possible, he said.
The proposed January 2009 Budget will include measures to support growth and jobs, strengthen business competitiveness and stimulate domestic demand, said Lee. The aim is not just to help Singaporeans tide over the present downturn but also to help build up strength for the future.
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