BAD times may lie ahead but the Government is ready to help, said Senior Minister Goh Chok Tong on Saturday night.

He sent out this message of hope even while he gave a realistic sense of the possible fallout from the global financial crisis.

He named three reasons Singapore, as it prepares for a global downturn, can be confident of emerging from the crisis stronger than ever.

First, the Government is ready to provide help if bad times come, he said at a Marine Parade GRC celebration of Hari Raya Aidilfitri.

In fact, Prime Minister Lee Hsien Loong has asked Finance Minister Tharman Shanmugaratnam to start thinking of ways to help Singaporeans and companies in the Budget next year, he said.

'We must do this in a way that not only eases the pain, but also positions ourselves to take advantage of the recovery later on,' Mr Goh said.

Second, he reminded Singaporeans of past crises they had overcome - the 1997 Asian financial crisis and the 2003 Sars attack.

'Those were the days when it seemed like the crisis would never end, but it did, and we bounced back,' he said, and urged the nation to 'stick together' to tackle the financial upheaval if it is prolonged.

And third, Singaporeans can take heart that economic fundamentals are strong. The nation will still draw 'a healthy pipeline' of investments through the Economic Development Board.

He cited a recent report by OCBC Bank that rated Singapore as the best-equipped among 50 global economies to overcome a serious economic crisis.

The Singapore economy is also more diversified compared to 10 years ago, he said, adding that the heavy national investment in education will help Singaporeans survive the downturn.

'With education, skills, and a determination to work hard and succeed, we need never fear the future,' he said.

'We can survive the temporary difficulties.'

The bigger worry for the Government is whether there will be a global recession, he said. There are signs that this is impending, with the plunge in stock prices worldwide as one indication.

Read the full story in tomorrow's edition of The Sunday Times.

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