Singapore's economic performance is often seen as a barometer of the global environment.
SINGAPORE, April 30, 2023 : Singapore is expected to post slower economic growth this year but it"should avoid an outright contraction", Prime Minister Lee Hsien Loong said Sunday.
The financial centre also has one of the busiest ports in the world which serves as a key link between Asia and the rest of the world. "But our external environment remains volatile, fraught with serious geopolitical tensions," Lee warned, pointing to the risk of recession in the West, where interest rates continue to be hiked to tame inflation.
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