Singapore economy grew only by 1.2 per cent in 2012, PM Lee pins blame on weak external economies, tightening of foreign workers quota

The Economic Times, 31 Dec 2012
SINGAPORE: Singapore's economy grew by 1.2 per cent in 2012, hurt by weakness in the West and Japan as well as problems faced by some local companies in hiring workers, Prime Minister Lee Hsien Loong said on Monday.
"Growth was slower this year, at 1.2 per cent. The weak U.S., European and Japanese economies dampened our growth, but some industries have also had difficulty hiring the workers they need to grow," Lee said in his New Year message. Full story

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