Singapore cuts 2016 forecast as world economy slows

A general view of the skyline of the central business district in Singapore. Singapore on Thursday narrowed its economic growth forecast for this year. -Reuters filepic

SINGAPORE: Singapore on Thursday narrowed its economic growth forecast for this year, citing concerns over the weaker global outlook and the impact of Britain’s vote to leave the EU.

Gross domestic product (GDP) for the city-state, regarded as a bellwether for Asia’s other trade-reliant economies, is forecast to expand 1-2 percent instead of 1-3 percent as projected earlier, the trade ministry said.