The China Post, 29 Apr 2009, APSINGAPORE -- Singapore's worst-ever recession likely bottomed in the first quarter, but the city-state faces a tepid recovery as global demand for its exports struggles to rebound, the central bank said Wednesday.
The country's economy could shrink as much as 9 percent this year as a “deep and prolonged” global downturn batters sales abroad, which account for about 60 percent of gross domestic product, the Monetary Authority of Singapore said in a semiannual report.
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