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UKRAINE CONFLICT

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Ukraine crisis clouds Singapore's outlook, sanctions on Russia planned

Measures include export controls on items that can be used directly as weapons in Ukraine to inflict harm, blocking certain Russian banks

Sharon See

Sharon See

Published Tue, Mar 1, 2022 · 05:50 AM

Singapore economy

Singapore

RUSSIA's invasion into Ukraine has "clouded" the economic outlook for Singapore, which on Monday (Feb 28) joined a growing number of "like-minded" countries to impose sanctions against the nuclear superpower.

"The actual impact on Singapore's GDP growth and inflation is difficult to estimate at this stage given the uncertainties," Trade and Industry Minister Gan Kim Yong told Parliament while speaking at the Budget debate.

"H…

SEE ALSO

Singapore’s inflation eases more than expected in March, with headline inflation at 2.5-year low

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