RI stability vital to S'pore economy<\/p>\n
SINGAPORE (Dow Jones): Singapore's deputy prime minister, Lee
\nHsien Loong, said Saturday that he sees \"strong momentum\" in the
\neconomy but that events in neighboring Indonesia could influence
\nthe outlook for Singapore.<\/p>\n
\"The momentum is strong,\" Lee said in answer to a question
\nabout the growth forecast for this year. \"We will have to see how
\nevents in Indonesia develop. If it begins to stabilize, that's
\ngood for us. Otherwise confidence could be shaken.\"<\/p>\n
Lee declined to say whether the government would issue a more
\nprecise forecast for economic growth this year. The government
\nhas given a wide range of between 4.5 percent and 6.5 percent,
\nfollowing an expansion estimated at 5.6 percent in 1999.<\/p>\n
He spoke briefly to reporters after the inauguration of a
\nchildren's newspaper by Singapore Press Holdings Ltd., the
\nisland-state's newspaper monopoly.<\/p>\n
Indonesia is one of Singapore's largest economic partners, and
\nits economic and political woes affect investor sentiment towards
\nSingapore and the rest of southeast Asia. The country is
\nstruggling to rebuild a ravaged banking system and faces
\nseparatist movements in far-flung provinces.<\/p>\n
On Thursday, Singaporean Prime Minister Goh Chok Tong, during
\na visit to Indonesian President Abdurrahman Wahid, announced that
\ngovernment-linked Singaporean companies would invest US$500
\nmillion to buy small stakes in distressed Indonesian firms. Goh
\nalso announced a 400 million Singapore dollar co-financing scheme
\nfor private-sector investments in Singapore.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-stability-vital-to-spore-economy-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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