SINGAPORE: Singapore's economic growth slowed significantly this year, as subdued external demand affected most sectors of the economy.
But findings from the Ministry of Finance's second issue of the Singapore Public Sector Outcomes Review (SPOR) showed that Singapore's economic fundamentals remain strong.
The labour market is near full employment and job creation remains healthy.
Singapore
continues to attract investments due to its stable business
environment, a highly educated and skilled workforce, and good
connections to the region and the world.
The Singapore economy is expected to grow by about 1.5 per cent in 2012.
Global
economic growth is expected to remain sluggish in the near term, as
governments and households in developed economies continue to rein in
spending.
Consumer price inflation remained elevated in 2012,
driven by higher car prices and imputed rental costs on owner-occupied
homes.
Published once every two years, SPOR provides a
perspective on how the public sector and Singapore have fared in six
broad range of areas of national interest including growing incomes and
fostering strong families and a cohesive society.
The review said
immediate challenges remain but are being addressed. These include
relieving pressure in public housing and transport infrastructure.
The report also pointed out that Singapore's fertility rate had declined steeply over the past decade.
Currently at 1.2, it remains well below the replacement rate of 2.1.
The
government notes that despite strenuous efforts to encourage family
formation, the trend of marrying later and having fewer children is
unlikely to reverse soon.
With immigration, Singapore's
population continues to expand, although more slowly now with the
tightening of the immigration framework since 2009.
Turning to
the public sector, the report notes that the public image of the civil
service had been dented recently by some high profile cases of
corruption, even though public sector cases formed only a small part of
corruption-related cases brought before the courts.
Six out of 135 offenders charged in court in 2011 were public sector employees.
It
sai the government's swift and resolute response to these incidents
demonstrates its resolve to uphold the highest standards of integrity in
the public sector.
Public policy will also have to take into account a greater diversity of needs and interests as society evolves.
The
current Our Singapore Conversation is an effort to involve many
Singaporeans in gathering aspirations and hopes for Singapore's future,
and ideas on how we can achieve them together.
The report added
that improving service delivery and strengthening public engagement are
key priorities for the public sector. The volume of public feedback
received by the government has also grown significantly over the years.
REACH
has seen a three-fold increase in the feedback it has received over the
past five years. In the first 11 months of 2012, this figure has
already reached 64,000.
The report said this reflected the public's desire for greater engagement with government on matters of public policy.
In
fact, in a 2011 survey conducted by the former Ministry of Information,
Communications and the Arts, 75 per cent of respondents felt that the
government should always consult the public and consider their views
when crafting policies.
- CNA/ck