Bloomberg.com, 21 Jan 2009, Shamim Adam and Chen Shiyin
Jan. 21 (Bloomberg) -- Singapore’s economy may shrink a record 5 percent this year as exports slump, increasing pressure on the government to take steps to help businesses and consumers.
Singapore is going through its sharpest and deepest recession, which may be the longest in the country’s history, said Ravi Menon, an official at the trade ministry. Gross domestic product may shrink 2 percent to 5 percent this year, the ministry said today.
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