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Singapore 'lucky' if growth is positive in 2019, PM Lee says

Bloomberg
Bloomberg10/17/2019 11:11 AM GMT+08  • 2 min read
Singapore 'lucky' if growth is positive in 2019, PM Lee says
(Oct 17): Prime Minister Lee Hsien Loong said Singapore will be “lucky” to see positive economic growth in 2019, casting a dark tone over the nation’s outlook as exports continue to slump.
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(Oct 17): Prime Minister Lee Hsien Loong said Singapore will be “lucky” to see positive economic growth in 2019, casting a dark tone over the nation’s outlook as exports continue to slump.

“This year we’ll be well under 1%,” Lee said Wednesday at a conference in Singapore hosted by Forbes. “If we’re lucky we should be above zero, but the momentum has substantially diminished. And a lot of it is lack of confidence – uncertainty.”

The government’s official projection is for growth to come in at 0%-1% this year, with the central bank saying earlier this week that expansion will likely be around the midpoint of that range. Growth has slowed sharply from 3.2% in 2018 as exports took a hit amid trade tensions between the US and China, two of Singapore’s biggest trade partners.

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