The Prime Minister of Singapore, Lee Hsien Loong claimed that the economy of Singapore did very well in 2011 and expanded by 4.8 percent.
Lee Hsien Loong claimed that the external environment is uncertain and hence nothing can be made sure about the future growth and plans. Also Singapore will decrease employing the foreigners to work in Singapore.
Singapore expects a slow growth in 2012 and that too of 1 to 3 percent. One reason might be that as they will disallow the people from outside Singapore to work in Singapore and hence will lose many business opportunities.
According to sources,the population of Singapore is 5.2 million and around 3.3 million people are citizens, 1.4 million are non-resident foreigners and the rest of the people are permanent residents.
It has been known that because of foreigners, there has been rise in the cost,buses and other transportation are crowded,there is competition in schools,colleges.