SINGAPORE: After policymakers slashed growth projections for the second time this year, Singapore is now anticipating its slowest full-year growth in a decade.
The Ministry of Trade and Industry (MTI) on Tuesday (Aug 13) said the economy will likely grow at between 0 and 1 per cent for 2019, with gross domestic product (GDP) falling in the middle of that range.
This downgrade comes just three months after the forecast range was narrowed to 1.5 to 2.5 per cent in May.
According to Bloomberg data, the last time Singapore’s full-year growth went below 1 per cent was in 2009.