Singapore’s trend rate of economic growth is likely to slow because of labour constraints and its success in achieving high levels of income per head, according to Tharman Shanmugaratnam, the island state’s finance minister.“I think it is reasonable to assume that growth going forward over the next five to 10 years will be somewhat lower than growth in the past,” Mr Tharman told the Financial Times in an interview.
“You can’t keep growing at 5, 7, 8 per cent over the next five to 10 years; and it is not advisable to either.”
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