The Ministry of Trade and Industry (MTI) of Singapore on November 21 released a report showing that the country’s economy expanded by 0.5 percent yearonyear in the third quarter of 2019.
The Ministry of Trade and Industry (MTI) of Singapore on November 21 released a report showing that the country’s economy expanded by 0.5 percent yearonyear in the third quarter of 2019.
The growth was slightly higher than the 0.2-percent growth in the preceding quarter, and higher than the forecast by 0.1 percent, according to the ministry.
Under the report, Singapore narrowed its official full-year growth forecast for 2019 to 0.5-1 percent.
As for 2020, the MTI forecasts that the Singaporean economy will pick up modestly as compared to 2019, and the growth will be in the range of 0.5-2.5 percent.
However, experts held that factors like the US-China trade tensions, the Brexit and the crisis in Hong Kong may strongly influence the Southeast Asian country’s economic growth./
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VNA
