The Economic Times, 23 Feb 2009, Reuters
SINGAPORE: Singapore's economy could contract by more than a government forecast of between -2 and -5 percent this year if the global economy continues to shrink, the Business Times quoted Prime Minister Lee Hsien Loong as saying.
"Our GDP growth is forecast to be between -2 and -5 percent. It could be worse if the global economy worsens, even lower than -5 percent is possible," Lee was quoted as saying at a government function on Sunday.
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