31 Jul '11, 12pm

DPM Teo warns of uncertainties ahead

DPM Teo warns of uncertainties ahead

SINGAPORE: Singapore's Deputy Prime Minister Teo Chee Hean has warned of uncertainties ahead in the global economy which could affect Singapore. Mr Teo was referring to economic woes in the US, Europe and Japan. The Monetary Authority of Singapore (MAS) also said earlier this month that it was reviewing its forecast of 5-7 per cent growth for this year because of problems in the US, Japan and Europe. It said then that Europe could be a 'chief global risk'. Mr Teo was speaking on Sunday at the Pasir Ris West Racial Harmony and National Day Observance Ceremony. He said the three major markets account for roughly half the world's economy, and that Singapore will feel the impact if the markets do not do well. The minister urged people to be aware of the looming clouds and risks. "In the United States, they still have not been able to agree on a Budget to allow the US governmen...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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