Singapore’s economy is expected to bounce back this year but not beyond pre-COVID levels, said Prime Minister Lee Hsien Loong at the sidelines of a Lunar New Year visit to Changi General Hospital on 12 February 2021.
“Other than transport and tourism, aviation – I think that will take quite some time more – the bulk of the economy I think should be able to recover.
“Construction has got specific difficulties because of migrant workers and safe management measures, but we will address that separately,” he said.
The Ministry of Trade and Industry (MTI) will release the Economic Survey of Singapore 2020 next week. It will include the overall performance of the economy for the whole of 2020.
In his annual Lunar New Year message released on 10 February 2021, PM Lee updated that 250,000 people in Singapore have received their first dose of the COVID-19 vaccine.
He also expects to offer vaccinations to the whole population within the year.
“For vaccinations, we have hedged our bets and we have ordered and pre-ordered vaccines from multiple suppliers … I'm reasonably confident that we will get the vaccines that we need this year, and we are depending on that,” he said.
He made it a point to note, however, that even if most of the people in Singapore get vaccinated, it will not mean going back completely to normal.
“Some will not be vaccinated – they will remain vulnerable – our borders will not be able to be completely closed, people have to travel, from time-to-time cases will come in and we will have to deal with them.
“We will have to move to living with COVID in some form for quite some time. But I hope that it will be in a way which more of the activities which are presently restricted can be eased and life can be somewhat more normal,” said PM Lee.
The first day of Lunar New Year saw PM Lee greet some 60 Singapore Airlines employees and healthcare workers at Changi Airport and Changi General Hospital.
He was accompanied by NTUC President Mary Liew and NTUC Secretary-General Ng Chee Meng, NTUC Central Committee members and union leaders.
Led by NTUC, the visit was part of the Labour Movement’s annual tradition since 1999 of visiting essential workers on the first day of Lunar New Year to thank them for putting their work and duties ahead of holidays and personal celebrations.
PM Lee presented Lunar New Year gifts, which included red packets and mandarin oranges, to the workers in the spirit of the festive season.
He acknowledged that this year is different, but the focus is to keep people safe.
“It has to be a more subdued mood. There will be time to celebrate in a more carefree way later on,” said PM Lee.
