Singapore’s Economy on Upturn, Minister Says
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SINGAPORE — Singapore could return to sustained economic growth this year barring any major upsets, Finance Minister Richard Hu said.
The economy grew a modest 0.8% in the second quarter after shrinking 1.8% last year and declining a further 3.4% in the first quarter of this year.
Hu said third-quarter results, expected to be announced soon, showed the economic pickup had been maintained, helped by low oil prices, a high yen and internal cost-cutting measures.
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