Deputy Prime Minister Wong Kan Seng did not mince words about the economic difficulties currently facing Singapore, in a speech given at the Bishan East PCF kindergarten graduation ceremony at the Bishan Community Club today.

"The dark clouds in the economic horizon is not the first crisis that we have weathered. It will not be the last," he said.

However, he is quick to bolster Singaporeans' confidence by saying, "As long as we keep our sights on key fundamentals such as educating the young, and training and retraining our working Singaporeans, we can overcome the difficult times as we have done in the past."

He points out that in times of economic difficulty, the resilience of the people and the leadership of the government will be fully tested.

Mr Wong Kan Seng says that he is confident that with Singaporeans supporting the government, staying resilient and adapting to the changing economic climate, "we can weather this difficult time together".