Singapore Prime Minister Lee Hsien Loong has said that the government is no longer aiming for " ridiculously high" economic growth like those seen in the past years, but rather a more sustainable rate of about 2 to 3 percent per year, local media reported on Monday.
Lee said at a conference of the ruling People's Action Party that Singapore's growth rate used to be 7 to 8 percent per year, and 5 percent on average over the last decade.
"Now, if you can do 3 to 4 percent, I think that's good. As our workforce grows more slowly in future, even 2 to 3 percent will be considered good growth," Lee said. Full story
