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SINGAPORE : Prime Minister Lee Hsien Loong hopes to announce the government's decision on extending the Jobs Credit Scheme at the NTUC Ordinary Delegates Conference on October 13.
Speaking at a dialogue with women professionals on employment opportunities in Singapore on Thursday, Mr Lee said the economic situation is more stable now, and monthly trade is steady.
However, for the short-term, Singapore needs to decide what to do when the Resilience Package measures end - in particular, the Jobs Credit Scheme, which has helped the cash flow of companies and save jobs.
Mr Lee said employers and unions are anxious to know if the scheme would be extended. He said the government is reviewing this carefully and will take into account the economic outlook and employment situation in its decision.
Mr Lee said: "We have to prepare ourselves for the world beyond the crisis, when there will be new opportunities, but of course also more competition, and greater uncertainty. We have an Economic Strategic Committee which (Finance Minister) Tharman has been chairing, which has been quietly making progress, thinking about the way ahead for the Singapore economy.
"I think they will have something to report, and to recommend before the Budget next year - which is their objective. But two things are quite clear, even before they report anything. First, that our economy must continue to globalise. And second, we have to maximise the potential of every Singaporean and raise their productivity."
Meanwhile, on Singapore's low total fertility rate, Mr Lee said it is a major concern.
He said there is no sign yet that the government's three marriage and parenthood packages have boosted marriage or fertility rates.
Today, the total fertility rate (TFR) stands at 1.28, just below last year's 1.29. Mr Lee said this may be due to the state of the economy. And even when the economy recovers, it would be difficult to push the TFR to around 1.6, let alone 2.1.
Mr Lee said with an average lifespan of 80 years, Singapore needs 50,000 babies each year. Today, there are only 32,000 citizen births. - CNA/ms
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