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Tuesday, 3 January 2012

Expect 'longish' period of slow growth: Lim Hng Kiang

By Lim Yan Liang

Singaporeans must brace themselves for a longish period of slow growth, as the global economy is expected to be in for a slowdown, said Minister for Trade and Industry Lim Hng Kiang.

The Government, however, does not expect an economic crisis. Growth this year for Singapore is still expected to be positive, slowing to between 1 and 3 per cent, from last year's 4.8 per cent.

Singaporeans can also expect some reprieve from inflation, which is expected to ease this year, he said on Monday. The minister was speaking to reporters at the sidelines of the launch of the Labrador Nature and Coastal Walk on Monday.

His comments came a day after Prime Minister Lee Hsien Loong urged Singaporeans to take this year's slowdown in their stride.

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