Reuters, 21 Mar 2009, Harry Suhartono
SINGAPORE, March 21 (Reuters) - Singapore's export-dependent economy will take at least three years to recover from the recession triggered by the financial crisis, the Southeast Asian country's most powerful politician was quoted as saying.
The daily Straits Times on Saturday quoted former Prime Minister Lee Kuan Yew as saying that a recovery within two to three years was part of an optimistic scenario that assumed a turnaround in the U.S. economy next year. Under a pessimistic scenario, it could take up to six years for the island-state to bounce back from recession, he said.
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