News.xinhuanet.com
13 Aug 2008
SINGAPORE, Aug. 13 (Xinhua) -- Singapore's Minister Mentor Lee Kuan Yew Wednesday was quoted as saying the city-state has some shock absorbers to buffer the setbacks of economic slowdown and soaring inflation.
Local TV Channel NewsAsia reported, when speaking to his constituents at a National Day celebration dinner, the founding father of Singapore said the country could grow 5 to 6 percent or even 7 to 8 percent if there is no long-term recession in the United States or European Union, but should the giants go into a recession, then growth may be at 3 to 5 percent.
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