Tuesday, May 21, 2024
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Singapore downgrades development outlook




SINGAPORE -Singapore’s financial system expanded lower than initially estimated within the second quarter and the federal government revised its development projections for 2022 decrease, flagging dangers to the worldwide outlook from the Ukraine conflict and value pressures.
Gross home product (GDP) grew 4.4 p.c year-on-year within the second quarter, the Ministry of Commerce and Business (MTI) stated, slower than the 4.8 p.c development seen within the authorities’s advance estimate.

“Draw back dangers within the international financial system stay important…additional escalations within the Russia-Ukraine battle may worsen international provide disruptions and exacerbate inflationary pressures by larger meals and vitality costs,” stated Gab…

Carry on studying: Singapore downgrades development outlook

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