News Snapshot:
SINGAPORE - Economic growth in Singapore will ease next year as weakening global demand will weigh down export-driven sectors, said the Ministry of Trade and Industry (MTI) on Wednesday. The Singapore economy is expected to grow by 0.5 per cent to 2.5 per cent in 2023, MTI said in its first forecast for the new year. The ministry also narrowed its gross domestic product (GDP) growth projection for this year, saying Singapore may achieve GDP growth of “around 3.5 per cent”, compared with an earlier forecast of 3 per cent to 4 per cent. The prediction is a notable decline...
