THE way Singaporeans have been reacting to the wave of foreigners coming here to work has a huge bearing on Singapore's growth this year.
It is a key reason for the slower growth being forecast for this year after a 'splendid' 14.7 per cent growth last year, said Minister Mentor Lee Kuan Yew on Friday.
'To keep up our strong performance, we needed more (foreign) workers. This caused some disquiet. So we are slowing down the numbers of new permanent residents (PRs). We must accept slower growth as a result,' he told his Tanjong Pagar GRC residents attending a Chinese New Year dinner at Tiong Bahru Community Centre.
Still, the 4 to 6 per cent growth projected for this year is 'very good' for Singapore's mature economy, he added.
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