SINGAPORE, Jan. 16 (Xinhua) -- Singapore's Senior Minister Goh Chok Tong on Saturday stressed the importance of good leadership for the country's economic development.

    Addressing graduates from a local leadership program, Goh said it is important to have good leaders in four sectors of the country -- political sector, public service, business sector and the people sector.

    He said that leadership is not only important in a battle but also crucial in peacetime in terms of generating economic growth.

    "If you track the performance of a country in the last 30 years, you will come to the conclusion that there is a co-relationship between the leadership of a country and economic performance of the country," Goh said.

    "The better the leadership, the better the government, more enlightened, more visionary. The more honest the government, the better the economic performance," he added.

    Singapore's economy contracted 2.1 percent in 2009. The country's gross domestic product (GDP) is expected to grow at 3 percent to 5 percent this year.