19 Nov '11, 2am

Tough times ahead? MAS says be vigilant, as fragile global economy may hit Singapore growth

SINGAPORE - The world economy and financial system are at their most fragile since the 2008-2009 global credit crisis, the Monetary Authority of Singapore (MAS) said as it urged borrowers and lenders here to be vigilant. In its annual Financial Stability Review released yesterday, the central bank moderated growth expectations by saying the Singapore economy could grow at a pace below its potential rate of 3 to 5 per cent next year. Last month, the Government lowered its growth forecast for this year to 5 per cent from an earlier forecast ranging from 5 to 6 per cent and the MAS said expansion would stall over the next few quarters as the global economy deteriorates. While Singapore's economy and financial system have so far been resilient, if the global slowdown drags on, corporate earnings could start to drop and that could have a negative impact on employment and wages,...

Full article: http://www.todayonline.com/Hotnews/EDC111119-0000053/Frag...

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