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The Singapore economy grew by 2.5% in the 1st qtr of 2005, signalling a moderation in growth compared with 2004. In view of the weaker than expected economic performance, MTI has made a downward revision of its full year GDP growth forecast, from 3-5% to 2.5-4.5%. Against a backdrop of cautious optimism, Civil Service has announced the payment of 0.4 month mid-year Annual Variable Component (AVC) and a one-off dollar quantum of $200 will form a larger proportion of the salaries of the lower division staff and is intended to narrow the wage differential between the higher and lower divisions.

Similarly, SAF regulars and DXOs will receive 0.4 month of AVC and a one-time lump sum payment of $200 in Jul 2005. This one-time lump sum payment is not to be regarded as part of the AVC.