Singapore in Recent Years

The current Singapore that we know now is a very developed country and has been changing its policy ever since the early years. In 2006, the government is setting aside about 13 billion dollars for Research and Development of technology in the next 5 years to increase the GDP of the domestic production percentage from 2.25 percent to 3 percent. From this, in the few years to come, there will be strong networks between the Research and Development centres that works with companies that introduce new technologies to the public by using commercialisation. 

The Research and Developments today are mostly focused on Environmental and water technology with a few biomedical technology for the usage in hospitals. Because of this, Singapore has also one of the most respected doctors in Asia. 

From recent research, Singapore's GDP will grow 2-4% in a year with the pace that is going now. According to the Monetary Authority of Singapore, changes can be made to increase the GDP of Singapore, which is the growth of the economy domestically, to keep the pace standard. With stagnant domestic demands, the resources can grow and increase the GDP fairly easily. This can also be called inflation, it is the decrease of demands and increase of prices in money. The graph below indicates the GDP growth of Singapore in 2014 to 2015.

http://www.mas.gov.sg/~/media/MAS/Monetary%20Policy%20and%20Economics/The%20Singapore%20Economy/RED/20150605%20Recent_Economic_Developments%20of%20Singapore.pdf