Singapore  - Singapore Prime Minister Lee Hsien Loong said Thursday that the city state's economic growth forecast for this year will have to be revised downwards from the current minus 2 per cent to minus 5 per cent as exports continue to be hit by the global economic slowdown.

But Lee said he did not think the decline would be double-digit.

Singapore's exports have been hit hard and the global situation was not looking any better, Lee told reporters during a visit to a local training and jobs placement centre.

Singapore  - Singapore Prime Minister Lee Hsien Loong said Monday that he reshuffled his cabinet last week as part of a long process of self-renewal for the island state's political system.

Lee told reporters that Singapore has yet to fully assemble the core of its new generation of leaders and it was a critical now to identify, gather and prepare more people to take the reins of power in the city-state to assure Singapore's long-term future, according to a Channel News Asia report,

Singapore  - Singapore Prime Minister Lee Hsien Loong on Thursday named Defence Minister Teo Chee Hean as his new deputy, saying the appointment was part of a cabinet reshuffle aimed at renewing leadership and preparing younger office holders for broader responsibilities.

Singapore  - Singapore Prime Minister Lee Hsien Loong said in an TV interview late Friday that there is a need for a rebalancing in the world economy, which could mean a shift away from Asia's current export-driven model.

"There will have to be a global rebalancing because we cannot expect the Americans to be consumers of things made all over the world. And the rest of the world as savers lending money to the US to buy things from you," Lee said in an interview with CNBC television.

Singapore - Singapore Prime Minister Lee Hsien Loong said the city-state has to prepare for hard times and some years of lower economic growth in the aftermath of the global financial crisis, local media reported Monday.

Lee said it was unlikely that things would return anytime soon to what they were during the boom years from 2004-07, when Singapore's annual economic growth reached an average of 8 per cent, the Straits Times newspaper reported.

Singapore  - Singapore Prime Minister Lee Hsien Long said the city-state's financial system must remain open to the world although the presence of foreign banks poses potential risks in the current economic downturn.

"While we take reasonable safeguards, we must stay open to the world," Lee said Thursday night at a dinner to celebrate Standard Chartered Bank's 150th anniversary in Singapore. "Walling ourselves in does not mean that we would be safe; it just means we will starve."