Escalating conflict in the Russia-Ukraine war and the slowing global economy are downside risks that Singapore must be prepared for, says Lawrence Wong.
Escalating conflict from the Russia-Ukraine war and the slowing global economy are some downside risks that Singapore must be prepared for, Deputy Prime Minister Lawrence Wong told CNBC in an exclusive interview.
"We are a small country, we have to take the world as it is, and not what we would like it to be," said Wong who is also finance minister.Escalating conflict from the Russia-Ukraine war and the slowing global economy are some downside risks that Singapore must be prepared for, Deputy Prime Minister Lawrence Wong told CNBC in an exclusive interview Wednesday.
"There are a few [risks]," Wong told CNBC's Martin Soong. "The strength of the global economy, particularly the U.S. economy, that's one. I think most economists think that [the U.S. economy] will be okay this year. And even if there is a contraction, it will be relatively mild, but who knows? It can get worse."
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