For years the PAP govt focussed its policies on economic growth, even as income inequality rose, cost of living escalated and poverty among Singaporeans increased. The MoM stopped releasing its figures on unemployment among Singaporeans and tries to shore up its grand achievements by releasing something called the 'employment rate'. The reality is one quarter of the workforce, 500000 workers, take home less than $1200 per month[Link] as the cost of living rose and living standards fell for a large number of Singaporeans. Professor Stiglitz (Nobel Prize 2001) tells us focussing narrowly on GDP as a measure of performance may not be good for society.
"GDP doesn't tell you what happens to the typical citizen...." - Professor Stiglitz.