SINGAPORE: Singapore's economic growth is set to weaken this year on the back of
weaker global demand and problems stemming from the euro zone debt crisis.
The International Monetary Fund
(IMF) said this in its annual review of Singapore's economy.
Singapore's economy will grow by
about 3.5 per cent in 2013, IMF said.
The fund said Singapore had ample
policy room and other protective measures to deal with the effects of a slowing
economy.
It said inflation, which is
currently at around 4.5 per cent, would likely remain under pressure.
IMF added that other sources of
inflation, including from transport costs, credit growth and asset prices,
should be "forcefully tackled".
- CNA/wm
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