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Pessimism surrounds S'pore growth outlook as global economic headwinds gather
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The Ministry of Trade and Industry is expected to downgrade its 2022 GDP forecast to a new range of 2 to 4 per cent.
ST PHOTO: LIM YAOHUI
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SINGAPORE - Singapore's growth outlook is becoming more and more gloomy as policymakers worldwide run out of ideas to tame inflation while maintaining the pace of economic recovery.
With no resolution of the Russia-Ukraine conflict in sight, and China on an unpredictable path to full reopening in the midst of its Covid-19 lockdown, supply shortages are likely to persist and keep pushing up prices of everything from energy and food to metals.
