Whilst Singapore Faces Recession, Malaysia Blusters
Across the causeway, Singapore has unofficially slipped into recession*. In fact the Singapore government has revised its 2008 growth forecast to around 3 per cent from a previous estimate of 4 to 5 per cent.
According to Singapore Prime Minister Lee Hsien Loong :
“Asian countries cannot avoid the impact of weakening U.S., European and Japanese economies,” [...]
