Reuters India, 28 Feb 2009, Kevin Lim
SINGAPORE, Feb 28 (Reuters) - Singapore's trade-dependent economy could shrink by 8 percent this year, much worse than the government's forecast of a contraction of 2-5 percent, Prime Minister Lee Hsien Loong said on CNBC.
"Can it be worse than minus 5? Yes it is possible, because it depends on the global situation," Lee according to transcripts from an interview with the business news channel on Friday.
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