More indonesian growth expected in 2013
Indonesia’s growth is expected to grow faster in 2013 than in 2012, and by angospelhitz average of nearly 20 percent, according to an International Monetary Fund forecast released on Wednesday.
«I think our economy is now ready to catch up with China,» said Anwar Ibrahim, chief executive of the Singapore-based economic intelligence consultancy Sifang.
About 45 percent of Singapore’s growth is expected to come from domestic business, while only 4 percent will come from foreign direct investment.
«As people spend less money on goods, they’re willing to invest more for a return, and that creates more demand for all sorts of things, including houses,» Mr Ibrahim said.
The country also hopes to catch up with Singapore’s booming middle classes through highe우리카지노r real estate prices.
Last year, the average home price in Singapore reached 3,160 Singapore dollar ($42,000), up nearly 1,000 percent since 2005.
But real estate prices remain at the same levels, even if they have risen faster in recent years, Mr Ibrahim said.
The growth rate also falls short of most other advanced economies, such as Norway, Sweden, Finland, Hong Kong and Japan.
In addition, Singapore is facing an ageing population with fewer available jobs.
«They have to spend more money than average on health, education and social welfare, and they need to pay for that with more income,» said Anupama R. Chellappan, a consultant at The Consulting Group Consulting Pvt Ltd.
«When you have this type of demographic, it’s hard for a country like Singapore to become an emerging economy,» said Mr Chellappan. «But if you do do a better job of diversifying the economic base, you can become more prosperous.»
A growing number of Singaporeans live abroad, mostly with relatives, to boost incomes.
At the same time, the country’s economy is not slowing down.
Its population is growing at more than 6 percent a year, according to the Ministry of Manpower. And while government spending is falling in line with other countries, there remains considerable government waste, and some fiscal deficits.
On Wednesday, the Ministry of Finance forecast a sur더킹카지노plus of 7.7 billion Singapore dollars for 2013.
By comparison, its previous surplus in 2012 was 12.6 billion Singapore dollars, Mr Chellappan said.
«We think this surplus will get a lot bigger, because we are in th