SINGAPORE’S growth forecast for this year will have to be be revised downwards from the current -2 to -5 per cent as exports continue to be hit by the global economic slowdown, Prime Minister Lee Hsien Loong said on Thursday.
In other news, Singapore will release its preliminary Q1 GDP figures next Tuesday. Sounds like the Prime Minister is warning people to brace for a lousy GDP number on Tuesday – worse than the 16.4% annualised drop in Q4’08, if such a thing is possible.
Oh, and the MAS announces their monetary policy on the same day. Hmm.
But he does not think it will go into double-digits.
Oh, well, that’s alright then. Always look on the bright side of life and all that.