Singapore assessing 2019 forecasts with trade war risks in view

SINGAPORE (Nov 5): Singapore may need to review its economic growth projections for next year as a trade spat between the world’s two biggest economies increases uncertainty and crimps business investment, the city state’s finance minister said.

“In the short run, the impact is not fully felt yet," with Singapore retaining its growth forecast for this year at 2.5% to 3.5%, Heng Swee Keat said in an interview Friday with Bloomberg Television’s Haslinda Amin. "But any trade tension that sets back globalization will affect everyone, including the countries that are directly involved, but also collateral damage right across all economies."

Heng made the comments ahead of this week’s Bloomberg New Economy Forum in Singapore, where policy makers and business executives will gather to discuss the changing dynamics in the world as economic influence shifts from the West to the East.

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