S'pore hasn’t entered recession, Govt to step in if needed

Almost zero growth: Pedestrians cross a street in the central business district in Singapore. Export-reliant Singapore has acutely felt the pressures of the US-China trade war, with officials lowering 2019 growth forecasts almost to zero. — Bloomberg

SINGAPORE: Singapore’s economy probably hasn’t slid into recession yet, though the government is monitoring conditions closely and will step in with support measures if needed, said Indranee Rajah, Minister in the Prime Minister’s Office.

“We’re not new to difficult economic situations, we’re not new to recessions, ” Rajah, who is also Singapore’s second minister for finance and for education, said in an interview with Bloomberg Television’s Juliette Saly yesterday.