2010 – Exceptional year

Singapore chalked up an impressive 2010 economic growth of 14.7%. This is the 2nd highest in the world, after Qatar. It is an exceptional year and the growth came in the wake of the recovery in US from the sub-prime crisis. Going forward, growth is expected to moderate to 4 to 6 percent according to the Ministry of Trade and Industry, as quoted by PM Lee Hsien Loong. This is still a respectable growth but government's announcements generally tend to be on the conservative side. Singapore faces a few challenges – immigrants, house ownership affordability, cost of living (esp the lower income group) and widening income gap. Capable leaders are needed for superior teamwork and leadership.

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