The April 14 announcement of downgrading by MTI comes exactly two months after a February 14 media release stating that the ministry was maintaining the Singapore “GDP growth forecast for 2025 at 1.0 to 3.0 per cent”. That media release had said that the Singapore economy had expanded by 4.4 per cent in 2024.
Tag: Global economy
Is US headed for “Trump recession”? Economic worries mount over tariff wars, workforce cuts, spending freeze
The US federal government reduced its payrolls by 10,000 in a potential harbinger of the alarm being sounded by the stock market, consumer confidence and other measures of where the economy is headed. Since January, the economic policy uncertainty index has spiked 41 per cent to a level, 334.5, that in the past signalled a recession.
Donald Trump says “India charges us auto tariffs higher than 100%”; announces tit-for-tat US tariffs globally from April 2
Trump said on March 4 night, in an address to the Joint Session of the Congress, the first of his second term in the White House, “Other countries have used tariffs against us for decades and now it’s our turn to start using them against those other countries. On [an] average, the European Union, China, Brazil, India — Mexico and Canada, have you heard of them — and countless other nations charge us tremendously higher tariffs than we charge them. It’s very unfair.”
Singapore must “retool, reskill, reboot” its economy as foundations of success are eroded, says Vivian Balakrishnan
The Indian-origin foreign minister spoke at the Singapore Institute of International Affairs Year Opener “Outlook 2025 – Singapore at 60 and The Road Ahead”. He looked back at the 60 years that have marked the astonishing success story of Singapore; he also looked ahead to the decades in which the world order will not be guided by Pax Americana.
Billionaire wealth grew by USD 2 trillion in 2024 alone: Oxfam report
Oxfam report says billionaire wealth grew by $2 trillion in 2024
PM Wong and PM Ibrahim witness Johor-Singapore SEZ agreement; express optimism for ASEAN and global level business success
The Johor-Singapore Special Economic Zone aims to create 20,000 skilled jobs in the first five years, attracting global investments, as stated in a recent media interaction with Malaysia’s Economy Minister Rafizi Ramli. The JS-SEZ goal is to hit 100 projects in the first 10 years.
Singapore SG60: Mission for 4G leadership is to retain “economic relevance” against “bright, hard-working, hungry” Indians and Chinese
In their recent statements, Singapore Prime Minister Lawrence Wong and veteran Indian-origin Cabinet minister K Shanmugam have spoken of the achievements of Singapore and the challenges facing the country, as it enters a new phase.
China approves Brahmaputra dam in Tibet, on a scale to surpass Three Gorges Dam, with security concerns for India
The dam is to be built at a huge gorge in the Himalayan reaches where the Brahmaputra river makes a huge U-turn to flow into Arunachal Pradesh in India and then to Bangladesh.
The total investment in the dam could exceed 1 trillion yuan (USD 137 billion), which would dwarf any other single infrastructure project on the planet, including China’s own Three Gorges Dam, regarded as the largest in the world, the Hong Kong-based South China Morning Post reported.
SM Lee goes #jalanjalan during China visit; says Singapore needs to be “friends with all sides”
Posting a series of images on his Twitter account, signed “LHL”, at the end of his six-day visit, SM Lee wrote: “Took a #jalanjalan at the lively Yuyuan Old Street in the evening. Every corner is captivating as the traditional Chinese buildings are illuminated with beautiful lights.” The phrase “jalan jalan” is Singlish — that is, Singapore English — for “taking a stroll”.
ILO says wages are recovering after negative shift in 2022
ILO is saying wages are recovering after negative shift in 2022
