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Singapore economy constrained by labour policies, strong currency: Citi strategist
[SINGAPORE] Singapore economy is constrained by its labour policies and a strong currency, Citi Private Bank investment strategist Ken Peng told a media briefing on Friday.
Mr Peng, alongwith the bank's Global Chief Investment Strategist Steven Wieting, was speaking at a conference on key investment themes for the second half of 2015. The conference was held in conjunction with the Bank's Global Investment Outlook Roadshow. "Policies for the local labour market has squeezed growth and profits in the past few years."This has gotten to a point where we're seeing both declines in employment and declines in industrial activity at levels last seen in 2009," Mr Peng said.
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