Singaporean Prime Minister Lee Hsien Loong(Photo: bloomberg.com)
Singapore (VNA) – Singaporean Prime Minister Lee Hsien Loong said on October 16 that the city-state’s economy will hopefully grow slightly in 2019.
Speaking at the 2019 Forbes Global CEO Conference, Lee said Singapore’s economy will expand less than 1 percent this year. “If we are lucky, we should be above zero but the momentum has substantially diminished.”
The trade-reliant economy, seen as a bellwether for global growth, is facing uncertain times due to the China-US trade war and a global economic slowdown.
The city-state narrowly dodged recession in the third quarter, data showed this week, and its central bank eased monetary policy for the first time in three years.
In the third quarter of 2019, Singapore’s GDP growth reached only 0.6 percent, reversing from the minus 2.7 percent recorded in the second quarter./.
VNA
