PM Lee: Growth In 2019 May Not Be As Strong
Prime Minister Lee Hsien Loong said on Tuesday (February 5) that growth in 2019 may not be as strong due to the slowing global economy and ongoing trade tensions between the United States and China.
Despite the challenges that Singapore may face, Mr Lee said that it is important to “keep on upgrading ourselves and improving lives for our workers”.
He noted that growth was good in the past two years, and that he thinks Singapore will continue to grow this year – albeit at a slower pace.
“Last year was good growth, the year before was also good growth. This year I think we will continue to grow. It may be not as vibrant as before but we work hard; even if this year is slower, the year after that we can make it better,” said Mr Lee.
The Singapore economy grew 3.5% in 2017 and 3.3% in 2018. However, it is expected to grow by between 1.5% to 3.5% this year.