Hindustan Times, 5 Dec 2008, Reuters
Singapore's economy may shrink next year, the country's prime minister said on Friday, as the trade-dependent island is hit by a sharp drop in demand for its products and services on the back of the world economic crisis.
Lee Hsien Loong, speaking to journalists at a lunch hosted by Singapore's Foreign Correspondents Association, also said he expected unemployment to rise, particularly in the manufacturing industries, which account for about a quarter of its economy.
Read More
