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Singapore 2011 economic growth slows to 4.8 pct

Singapore 2011 economic growth slows to 4.8 pct

Prime Minister Lee Hsien Loong says Singapore's economic growth slowed in 2011 as global demand waned for the city-state's exports.
Lee said in a statement Saturday that gross domestic product expanded 4.8 percent, down from 15 percent in 2010. The government initially expected growth of between 4 percent and 6 percent in 2011.
Lee reiterated the government's growth forecast for 2012 of between 1 percent and 3 percent.
Lee said next year will likely be difficult for the global economy and "Singapore will inevitably be affected."
The government plans to announce preliminary fourth quarter GDP results on Tuesday.


Updated : 2020-11-30 04:32 GMT+08:00