Singapore economy expected to grow yearly at around 5% over next 5 years: PM

Prime Minister Lee Hsien Loong has said Singapore’s economy is expected to grow annually at around 5 per cent or maybe more over the next five years.

Speaking to The Wall Street Journal, he said the growth forecast for this year is 4.5% to 6.5%.

Mr Lee also saw the next three to four years as good growth years.

On balance, he said, unless there is a disaster, Singapore will be doing OK.

Mr Lee added that, like other nations, Singapore’s economy could be affected by adverse global economic conditions such as a possible recession in the United States, worldwide currency instability, a major terrorist attack in the region or a falling out between the US and China.

Source: Channel NewsAsia, 17 April 2007

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