- Joined
- Jan 3, 2009
- Messages
- 2,605
- Points
- 0
Slow recovery expected for Singapore
Malaysia Sun
Sunday 3rd January, 2010
Singapore’s Prime Minister Lee Hsien Loong has said his country’s economy is slowly improving after a volatile year.
2009 saw the Singapore economy shrink for the first time since 2001.
Lee announced that gross domestic product fell 2.1 percent in 2009, but forecast that the economy would expand 3 percent to 5 percent in 2010.
In a new year message, Lee said: “Our economy is growing again, and has recovered much of the ground since the recession began. Worldwide, economies have stabilised. The U.S., Japan and Europe are starting to grow again, although problems remain and no one expects an exuberant boom.”
His comments were recently foreshadowed by the Asian Development Bank’s Office for Regional Economic Integration, when its officials announced that there could be a significant chance of another growth slowdown for Asia in the second half of 2010.
Malaysia Sun
Sunday 3rd January, 2010
Singapore’s Prime Minister Lee Hsien Loong has said his country’s economy is slowly improving after a volatile year.
2009 saw the Singapore economy shrink for the first time since 2001.
Lee announced that gross domestic product fell 2.1 percent in 2009, but forecast that the economy would expand 3 percent to 5 percent in 2010.
In a new year message, Lee said: “Our economy is growing again, and has recovered much of the ground since the recession began. Worldwide, economies have stabilised. The U.S., Japan and Europe are starting to grow again, although problems remain and no one expects an exuberant boom.”
His comments were recently foreshadowed by the Asian Development Bank’s Office for Regional Economic Integration, when its officials announced that there could be a significant chance of another growth slowdown for Asia in the second half of 2010.
