News Room - Business/Economics

Posted on 10 Apr 2009

S’pore to revise down 2009 GDP

The city-state will have to revise down its economic forecast for 2009 as its exports have been badly hit by the global recession, the Prime Minister Lee Hsien Loong said yesterday.

 

Lee did not indicate the extent of the likely revision.

 

Singapore’s current forecast is for gross domestic product (GDP) to contract by between 2% and 5% this year. The government will report first-quarter GDP data on Tuesday.