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Transcript of Singapore
Republic of Singapore
Singapore is an island of 660 sq. km with 63 islets, one of the crossroads in the world. It is a city state located at the tip of the Malaysian Peninsula, between Malaysia and Indonesia. It is known as a “Garden City” despite the limited natural resources.
Conventional Short Form: Singapore
Capital: Singapore City
EMPLOYMENT AND LABOR FORCES
Pauline Nichole Pascua
President Tony Tan
Prime Minister Lee Hsein Loong
The Supreme Court
and the Subordinate Court
Total population: 5,469,700
Resident Population: 3,870,300
Resident Population Growth: 1.3 per annum
Official Languages: English, Mandalay, Tamil, Mandarin
Main Religions: Buddhism, Islam, Christianity, Taoism, Hinduism
Tropical climate and hot and humid throughout the year
Average temperature: between 25°C to 31°C
Warmest Month: April
Coolest Month: January
Wettest Month: November
Economy at a glance
The Singapore economy grew moderately as year 2015.
The domestic-oriented will be bolstered by firm demand and temporary break from the suspension in foreign worker tax hike.
The Singapore Economy is poised for moderate growth of 2-4% for 2015.
The Singapore Flag
The red signifies brotherhood and equality of man.
White signifies virtue and purity.
The upper left is a crescent moon represents a young nation on the rise.
The 5 stars represent equality, justice,
peace, progress and democracy.
Singaporeans are a mix of Chinese and Malay.
Each has contributed their culture towards the unique
way of life in Singapore.
Philippine Money = 33.08
Other Economic Indicator
Information Communication and Digital Media Industry
Director (TV/Film, Animation & Games)
UNEMPLOYMENT AND UNDEREMPLOYMENT RATE
AND STRATEGIES USED
Singapore’s Monetary Policy concentrates on its primary goal of ensuring price stability and maintaining confidence in domestic currency. Since 1981, the monetary policy governed by the Monetary Authority of Singapore focused on the exchange rate that serves as a more effective tool in maintaining price stability in a small and open Singapore economy. At the recent Monetary Policy Statement, the headline and core inflation will remain passive due to lower oil prices. Consistency of benign inflation outlook and moderate growth prospects for the whole 2015 with the policy is appropriate to ensure price stability.
Singapore’s Fiscal Policy focuses on promoting long-term economic growth. Thus, the government ensures fair tax policies and wise expenditure programs. To expound, the government’s expenditure main focus is the delivery of essential goods and services to its citizens. Moreover, it spends mostly on education, health care, public housing and national security to assure a secure future of the country. The government is also committed to building and sustaining world-class economic infrastructure and services. It is supported by the data released by the government that development expenditure accounted almost one third of the average government expenditure for the last decade.
OTHER POLICIES, PROGRAMS AND STRATEGIES IMPLEMENTED BY THE GOVERNMENT:
The National Wages Council was set up to formulate wage guidelines to be in line with long-term economic growth for the Singapore government. The government, employers group and trade union joint forces to formulate wage policies to have a sustainable wage increases to help firms attract and retain workers. To have a sustainable wage increases, NWC focuses on re-skilling and upgrading of the workforce through SkillsFuture. SkillsFuture is an important national effort requiring the full support of the government, employers and workers. The NWC urges employers to step up efforts to train their workers with the skills needed to help raise productivity and to develop better career progression pathways that can sustain wage increases for the workers.
ECONOMIC STRATEGIES COMMITTEE REPORT 2010
ECONOMIC STRATEGIES REPORT COMMITTEE 2010
Economic Strategies Committee (ESC) 2010 is the Singapore’s latest push to derive new economic strategies to reinvent Singapore and make the country ‘future ready’ for the next decade, driven by sustainable and inclusive economic growth. Wide-ranging ideas were solicited from industries, trade unions, associations, academia and the general community.
SEVEN KEY ECONOMIC GROWTH STRATEGIES
No. 1 city with the best investment potential
Top 2 in the world for foreign trade and investment
The world’s easiest place to do business
Top 2 most competitive city in the world
Best business environment in Asia Pacific and the world
Asia’s most network-ready country
Asia’s No.1 for best logistics supply chain performance
Asia’s best intellectual property protection
Asia’s least bureaucratic place to do business
Most transparent country in Asia
Asia’s best country to work in