Singapore’s growth slowed in 2011 and the economy will be hurt next year by a protracted European debt crisis and a “difficult” global environment, Prime Minister Lee Hsien Loong said.
Gross domestic product (SGDYTY) rose 4.8 percent this year, Lee, 59, said in his New Year message released in Singapore today. That compares with the government’s earlier forecast of a 5 percent expansion. The trade ministry predicts the economy will expand 1 percent to 3 percent in 2012, an estimate reiterated by Lee. Full story
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