In an annual speech ahead of Friday’s national day, Lee also said the government would raise the retirement and re-employment rates. (Image by Pixabay: For Illustration purposes only)

SINGAPORE: Singapore Prime Minister Lee Hsien Loong said on Thursday his government stands ready to stimulate the economy, as the island-state suffers from some of slowest growth rates in years and economists warn a recession may be looming.

In an annual speech ahead of Friday’s national day, Lee also said the government would raise the retirement and re-employment rates, adding that he would reveal more details later this month. - REUTERS