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Good evening. The Singapore economy is consolidating its （1） ______ from the 2008 global economic crisis. GDP grew 4.9% in the first half of 2011, while unemployment remains low at 2.1%. Despite some risks on the horizon, we project （2） ______ growth of 5%~6% for 2011.
Our last five years were marked by uncertainty and （3）______ ______. We enjoyed several very good years when our economy boomed and wages went up. But we also （4）______ some very worrying moments, especially during the global economic crisis.
Amidst such （5） ______ turbulence, the government did its utmost to protect Singaporeans from the global crisis. We introduced the Jobs Credit to keep firms viable and save jobs. Even in the midst of adversity, we formed the Economic Strategies Committee to identify long-term opportunities and map out a （6） ______ for the future.
This year, with the cost of living rising, we launched the Grow & Share package to help households cope. We continue to retrain workers to become more （7） ______, and to support （8） ______ families through many assistance programmes.
Overall, the government's policies have worked. Our strong reserves saved up over many years gave us the confidence and the means to move （9） ______ with our Resilience Package. Our growth strategies of upgrading education and skills, and breaking into higher-value sectors have created （10） ______ ______ ______ for Singaporeans. Compared to five years ago, most households have seen incomes rise.
But despite our best efforts, we couldn't shield Singaporeans fully from the external shocks. In a rapidly changing （11） ______,the government had to address the most urgent problems first—stabilizing the economy, （12） ______ ______, helping those who were displaced by the crisis.
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