Singapore GDP likely to grow but recession, stagflation not ruled out: Lawrence Wong

Singapore

SINGAPORE'S baseline assumption is that its economy is still able to grow this year, but a recession or stagflation cannot be ruled out, owing to uncertainties arising from the deepening crisis in Ukraine, said Finance Minister Lawrence Wong on Tuesday (Mar 22).

"It may well be that we can still continue to grow... our baseline assumption and projection is still that we are able to continue growing as an economy this year," he said during a luncheon plenary at the Singapore Apex Business Summit 2022.