S’pore to curb foreign workers, accepts slower growth for stability

SINGAPORE: Singapore is willing to accept slower growth as a trade-off for social stability as it aims to keep down the number of foreigners working in the city-state, Finance Minister Tharman Shanmugaratnam told Reuters.

Over the past decade, Singapore's economy has expanded by a 6.4% annual average. But Tharman said that he would be happy if Singapore grew 3% a year, as long as growth was driven mainly by gains in productivity.