Tag Archives: Recession

It was reported that a sum of $35 million provided as wage subsidies to 32 commercial firms had been returned to the government. Apparently, these companies do not need money from our reserves. Another 29 companies also reported that they do not wish to receive further wage subsidies. No amount has been stated or how much they would receive had they not declined. Why are there no background checks carried out before large swaths of money are given away?

In 2016, the number of closures of business entities and the figure came to a whopping 61,138. This is an increase of a whopping 53 per cent from the 39,977 closures in 2010.

The Ministry of Trade and Industry (MTI) announced that Singapore's economy expanded by 1.4% in the third quarter of this year as compared to 2014. This was down from the 2% growth seen from the previous quarter. The figures beat expectations of a 0.1% contraction and avoided a technical recession which was predicted by many analyst.

The PAP seems to be lost when it comes having a coherent economic strategy for Singapore. What happened to making Singapore an Education Hub in this region? What is going on with our Biotechnology endeavour? Will Singapore go into recession next year because of PAP’s incompetence and neglect?

Total employment in Singapore fell for the first time in 5 years. 6,100 lesser people were employed this quarter, as compared to the first quarter of this year. The sectors that had reduced employment are manufacturing, construction and parts of the services industry. Services has been the main propeller of growth for the past few years, but slowed down dramatically. Figures in March 2015 show that total employment stands at 3,617,800, which is 2.7% more than last year's figures.