Observers expect CFE report to be 'big picture' of economy's revamp

Singapore

A FORTHCOMING high-level report on how Singapore can restructure its economy will be the fourth such document in three decades - but economists say that this time, it will be different.

In fact, they expect the Committee on the Future Economy (CFE) report, due in the coming days, to be somewhat of a paradigm shift - easy on the details, but big on ideas on how everyone can work together to take part in Singapore's future growth.

This different approach is needed because, unlike the previous reports that were drafted in response to economic recessions, the CFE report will come at a time when things are still chugging along - just not as fast as before.

Add to this the fact that Singapore is now a mature economy, as opposed to when it was still developing when the previous reports were formulated; it would thus be hard to prescribe s…