Expatriate Insurance News: Singapore 'to gain 100,000 expats'
14/07/10 19:21
The number of expatriate workers in Singapore is set to increase by at least 100,000 this year, according to the government.
Prime minister Lee Hsein Loong said the administration has taken measures to moderate the flow of foreign workers but expressed his belief that a rise is inevitable because of strong economic growth.
"It cannot be helped because with the market so tight, if we don't allow the foreign workers in, you are going to have overheating," he remarked.
"I cannot see it otherwise. We have to accept that."
His comments follow the publication of economic data and forecasts from the Ministry of Trade and Industry, which predicted that the state's economy could see growth of between 13 and 15 per cent this year, a sharp rise from earlier growth forecasts of between seven and nine per cent.
Singapore's economy has already expanded by 19.3 per cent in the second quarter of 2010, driven by the successes of its manufacturing and electronics sectors.
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