Singapore Parliament Dissolved, Paving Way for New ElectionsSingapore's president dissolved parliament on Thursday, opening the way for general elections in the wealthy island nation hit by recession.The move comes a day after the government announced new constituency boundaries, seen as the first step toward an election. Singapore Prime Minister Goh Chok Tong left Thursday for the meeting of Asia Pacific Economic Cooperation. He must now hold an election between nine and 30 days. The government does not officially finish its five-year term until August 2002, but analysts and opposition leaders had been predicting an early election in the wake of bad economic news. Singapore, a small but wealthy trade-dependent Southeast Asian island nation, slipped into recession earlier this year. The government says the economy will contract by 3 percent this year, after 9.9 percent growth last year. The economy was hurt by a fall in demand for electronics its major export especially in its biggest market, the United States. Singapore's economic woes have been made worse by the sharp downturn in consumer confidence following the Sept. 11 terrorist attacks on the United States and Washington's military response. The announcement of the dissolution was made in a one-line statement faxed to media organizations The ruling People's Action Party has held power in the city-state since 1959, winning 10 elections in a row. |
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