Singapore govt confident there will be no no recession next year as country seeks to beat risks

Singapore’s economy is not at risk of recession or stagflation at this stage, Finance Minister Lawrence Wong said, amid growing concerns about the impact of global monetary policy tightening to counter surging inflation. - AFP

SINGAPORE, July 4 (Bloomberg): Singapore’s economy is not at risk of recession or stagflation at this stage, Finance Minister Lawrence Wong said, amid growing concerns about the impact of global monetary policy tightening to counter surging inflation.

"We do not expect a recession or a stagflation scenario next year,” Wong, who is also deputy prime minister, said in Parliament Monday.