Singapore - News this month
Transport for the future
Singapore's government will more than double its spending on transport infrastructure in the next 12 years. Delivering the annual budget on February 15th, the finance minister, Tharman Shanmugaratnam, said S$50 billion ($35.4 billion) would be spent on new motorways and two new lines for the light-railway network. The government hopes the projects will reduce road congestion, which has increased by a quarter since 1999, boost Singapore’s ability to absorb a growing population and raise property prices in outlying areas.
Storm warning
Singapore's prime minister, Lee Hsien Loong, prepared his countrymen for tougher times ahead in his traditional message of welcome for the Chinese new year. Mr Lee spoke on February 5th of a need to “gird ourselves for further uncertainties”, highlighting worries about the impact of a possible recession in America and an ensuing global slowdown. He admitted that the rising prices of food and energy were a concern locally, but ruled out the introduction of subsidies for essential items.
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