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"So let us prepare for a very tough year ahead and let us be psychologically raedy to think in terms of several slow years after that." PM Lee said.
Last month the government said in its budget it would for the first time tap government reserves to pay for a stimulus package to help companies and save jobs, as the country grapples with its worst-ever recession.
Singapore's non-oil exports fell 34.8 percent in January from a year earlier, the worst fall since records began in 1977, and analysts said the worst is yet to come.
Lee said the next two quarters would be "especially tough and let's fasten seat belts." *
Last month the government said in its budget it would for the first time tap government reserves to pay for a stimulus package to help companies and save jobs, as the country grapples with its worst-ever recession.
Singapore's non-oil exports fell 34.8 percent in January from a year earlier, the worst fall since records began in 1977, and analysts said the worst is yet to come.
Lee said the next two quarters would be "especially tough and let's fasten seat belts." *