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via EdgeSingapore RSS on 8/16/09
Singapore's fiscal stimulus package unveiled earlier in 2009 is working and the government won't need to inject additional funds into the economy this year, Prime Minister Lee Hsien Loong said.
The island's economy has stabilised after an unprecedented "storm" earlier in the year, Lee said in the annual televised National Day Rally speech last night. The economy is emerging from its deepest recession in half a century after shrinking 6.5% in the first six months of 2009, he said, reiterating an earlier estimate.
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