Supplementary Statement on the National Day Message 2011

In response to media queries, Prime Minister Lee noted that his National Day Message had been pre-recorded last week. Since then, global financial markets have been turbulent and nervous. Rating agency S&P has downgraded the US’ long term sovereign debt rating from AAA to AA+. The outlook for the major economies has become more uncertain. However, it is premature to revise Singapore’s growth forecast of 5-6% for the year. The economic agencies are carefully monitoring the situation.

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PRIME MINISTER’S OFFICE
8 AUGUST 2011