Growth will gradually accelerate over the next 2 years, with inflation moderating but still higher than
average in the past decade and the balance of payments recording large but narrowing surpluses. Prudent
economic policies, a flexible labor market, a sound banking system, and substantial foreign exchang...
reserves will counterbalance adverse developments overseas. As the government implements its growth
strategy encouraging firms away from reliance on foreign labor, it should take measures to reduce the
impact on small and medium-sized enterprises.
Source: Asian Development Outlook Data : Singapore - http://www.adb.org/sites/default/files/ado2013-singapore.pdf
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