06 Aug '11, 10pm

DPM Tharman warns Singaporeans to brace for a 'tough ride of slow growth and occasional recessions'

SINGAPORE - Deputy Prime Minister Tharman Shanmugaratnam has braced Singaporeans for a "tough ride of slow growth and occasional recessions" in the next three to four years in the world economy, even as he spelt out four priorities for the nation to stay afloat. Amid a global market correction fuelled by worries over the European debt crisis and a faltering United States economy, Mr Tharman - speaking at a National Day dinner at Bukit Batok yesterday - said confidence in the world economy is weaker than it was three or six months ago. Noting the weak fundamentals of the United States economy, he said it would not take much for flagging confidence to lead to recession. "Whether there's a recession or not in the next six months, no one can tell in the US, but it is very likely that the next three to four years will be a tough ride of slow growth, and occasional recessions. S...

Full article: http://www.todayonline.com/Hotnews/EDC110807-0000147/Toug...

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