Alexa

Singapore's PM says GDP rose 7.5 percent this year, at bottom of target range

Singapore's PM says GDP rose 7.5 percent this year, at bottom of target range

Singapore's economy grew 7.5 percent in 2007, coming in at the bottom of the government's forecast range of 7.5-8.0 percent, Prime Minister Lee Hsien Loong said Monday.
The expansion was underpinned by strength across the key sectors, but growth slowed in the final three months of the year, Lee said in his New Year's message.
Lee stood by the government's forecast for economic growth within a 4.5-6.5 percent range in 2008, although he warned of the risk posed by a possible recession in the United States.
"The U.S. may go into a recession because of the financial market problems," Lee said. "A U.S. downturn would affect Asia too, but the impact on us would be offset somewhat by the strong momentum in the dynamic Asian economies."
On Wednesday, Singapore's Ministry of Trade and Industry is set to release an advance estimate of fourth-quarter gross domestic product data.


Updated : 2021-02-26 23:22 GMT+08:00