Restructuring yoke to weigh on Singapore this year: DBS CEO

2015 is a crucial year, but he believes the US economy can power Asia's export engines

Published Wed, Jan 7, 2015 · 09:50 PM

Singapore

SINGAPORE'S efforts to restructure its economy will become even more critical this year, amid concerns over easing inflation and the weakening of economic prospects here and abroad, the chief executive of DBS Piyush Gupta suggested on Wednesday.

Speaking to private-banking clients at a seminar, he said: "2015 is a very, very important year for our country. It's important because this whole scope of transitioning the economy and restructuring the economy is very sensitively poised."

He pointed to two "deflationary drives" in Singapore - the push to raise productivity, particularly in manufacturing, and the cooling measures for the property m…