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Govt ready to take action amid downturn if necessary: Heng

DPM says there are plans for different scenarios and a range of measures depending on the state of the economy

Singapore

THE government is watching closely how the economy will pan out by the end of the year, and stands ready to take action when needed, said Deputy Prime Minister Heng Swee Keat on Friday.

He was responding to statistics released by the Economic Development Board on Thursday, which showed that Singapore's manufacturing output fell 8 per cent year-on-year in August on the back of sharp falls in electronics and precision engineering output.

In an hour-long radio interview with CNA938, Mr Heng said that although the downside risk to growth has increased amid China-US trade tensions, sectors such as financial and insurance services are doing well. Some areas even within electronics, such as data...

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