Singapore, Sabah, Sarawak and Malaya were supposed to be the four peas from the same pod but the Lion City was booted out of Malaysia in 1965. This pea turns out to be the most successful one because it is managed by a handful of good, capable no-nonsense and dedicated leaders. Sad to say, the others not only stagnated but they are all withering now because the leaders are all corrupted and incompetent. What a difference. What say you Najib and Mahathir????? Quote: Singapore will be a big winner from cheaper oil although the central bank may have to let the currency weaken if inflation sinks too low, analysts said yesterday. Oxford Economics said in a recent report that the economy here would likely grow at a slightly faster pace while the trade balance would improve significantly if crude oil falls to US$40 (S$53) a barrel. The Philippines and Taiwan would also be likely beneficiaries of such a drop, it added. The British-based group forecast that Singapores gross domestic product (GDP) would grow around 3.7 per cent this year and next year if oil prices drop to US$40 a barrel. That prediction is 0.4 percentage point higher than the 3.3 per cent GDP growth the analysts expect in the baseline scenario, which is if oil prices were to average US$84 per barrel this year, then gradually climb to US$109 per barrel in 2019. The local economy grew 2.8 per cent last year and the Government expects it to grow 2 per cent to 4 per cent this year. Oxford Economics tips that Singapores current account would also improve markedly in the wake of cheaper crude. A nations current account, a gauge of its trade, is its exports of goods, services and transfers, minus its imports of them. A current account surplus is usually better than a deficit. Unquote Full article: malaysia-chronicle/index.php?option=com_k2&view=item&id=441672:unlike-oil-exporting-msia-spore-seen-a-big-winner-from-cheaper-oil-analysts&Itemid=3#ixzz3Oqoa68AV Follow us: @MsiaChronicle on Twitter
Posted on: Thu, 15 Jan 2015 01:59:01 +0000
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