GDP growth for this year is now expected to be just 1.7%, compared with the earlier forecast of 2.6%.
Economists have cut growth forecasts for Singapore’s gross domestic product and consumer prices as uncertainties of the global trade war leave the Lion City vulnerable to risks.
Singapore’s economy is expected to expand only 0.2% year-on-year in the third quarter this year, according to the median prediction of 13 economists in a Bloomberg survey conducted this month. That’s a sharp cut from the 1.3% predicted growth in an earlier survey conducted in March.
