Singapore Prime Minister Lee Hsien Loong, in his New Year message said that the Singaporean economy has managed to expand by 14.7% in 2010 despite all the problems in the pharmaceuticals and Construction industry.

The government had a forecast of 15% for November and the figures are quite close to the actual. For 2011 the PM has given a growth prospect of 4-6 percent.

The government is all set to rollout the budget for the economy in February; this is when the country will be exposed to the latest policies of the government and its plans for the country's future.

The inflation in Singapore has been a worry, as it touched the highest figures at 3.8 percent since Jan 2009. The transport and accommodation costs were the prime reasons to these numbers. The housing costs have also dramatically risen.

The middle class is finding it difficult to cope with the prices. The immigration policies will also be the one to look out for as the country's average population is ageing.

A National Population and Talent Division will be set up and it won't be surprising to see if it sets up a ministry of its own.