Daily Times
8 Aug 2008
SINGAPORE: Singapore’s inflation should ease towards the end of the year from its 26-year high, but the country can be hit by a further slowdown in the world economy, the finance minister was quoted as saying on Thursday.
State-owned TV Channel NewsAsia quoted Finance Minister Tharman Shanmugaratnam as saying it could take another year before growth bottoms out.
“We have to expect continued weakness in the global economy, which might extend into next year and we won’t be able to avoid a slowdown if that happens,” he said.
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