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The history of the Republic of Singapore began when Singapore was expelled from Malaysia and became an independent republic on 9 August 1965. [1] After the separation, the fledgling nation had to become self-sufficient, however was faced with problems including mass unemployment, housing shortages and lack of land and natural resources such as petroleum.
The self-governance of Singapore was carried out in several stages. Since the founding of Singapore in 1819, Singapore had been under the colonial rule of the British. The first local elections on a limited scale for several positions in the government of Singapore started in 1948 following an amendment to the Constitution of Singapore.
This is an accepted version of this page This is the latest accepted revision, reviewed on 17 February 2025. Economy of Singapore Skyline of Singapore's Downtown Core Currency Singapore dollar (SGD/S$) Fiscal year 1 April – 31 March Trade organisations WTO, APEC, CPTPP, IOR-ARC, RCEP, ASEAN and others Country group Developed/Advanced High-income economy Statistics Population 6,040,000 (2024 ...
Singapore became an independent republic on 9 August 1965. By the 1990s, the country had established a highly developed free market economy and strong international trading links. It now has the highest per capita gross domestic product in Asia, [ 2 ] which is 7th in the world, and it is ranked 9th on the UN Human Development Index .
Singapore; Depositary: Singapore Government dated 1 June 1966 The Secretary-General of the United Nations acting in his capacity as depositary the following: [1] English and French Registered No. I-8206: Language: English: Full text; Agreement relating to the separation of Singapore from Malaysia as an independent and sovereign state at Wikisource
The English name of "Singapore" is an anglicisation of the native Malay name for the country, Singapura (pronounced), which was in turn derived from the Sanskrit word for 'lion city' (Sanskrit: सिंहपुर; romanised: Siṃhapura; Brahmi: 𑀲𑀺𑀁𑀳𑀧𑀼𑀭; literally "lion city"; siṃha means 'lion', pura means 'city' or 'fortress'). [9]
Since independence, Singapore's legal system has evolved increasingly towards its local context. [31] Developments in government and constitutionalism have brought about distinctive features in its system of checks and balances. A few issues arise due to the long-standing one-party dominance in Singapore's political system.
High foreign debt, economic mismanagement under the governments of Gotabhaya and Mahinda Rajapaksa, [150] and lower tourism revenue led to the country defaulting on its sovereign debt in April 2022. [151] The economy contracted 7.8% in 2022, and the percentage of the population earning less than $3.65 a day doubled to around 25% of the population.