(Apr 8): Singapore and other Southeast Asian economies are poised to remain resilient in the face of increasingly dour signs on the global economy, said Finance Minister Heng Swee Keat.
Economies in the 10-member Association of Southeast Asian Nations “and Asean as a group both continue to grow quite well even this year and next,” Heng told Bloomberg Television’s Haslinda Amin on the sidelines of meetings of the regional bloc in Chiang Rai, Thailand. “There will still be growth even though the growth will be uneven across the world and it’ll be slower than before.”
Global growth has lost momentum since the beginning of the year, a knock for trade-reliant nations in Southeast Asia, especially Singapore. For now, regional growth seems to be holding up, with the Asian Development Bank forecasting 4.9% expansion in 2019.