July 12, 2019 / 7:59 AM / a month ago

Singapore does not expect recession despite growth slump: finance minister

Singapore's Deputy Prime Minister Heng Swee Keat attends a meeting with Chinese Vice Premier Han Zheng (not pictured) at Diaoyutai state guesthouse in Beijing, China May 22, 2019. REUTERS/Florence Lo/Pool/Files

SINGAPORE (Reuters) - Singapore’s government is not expecting the economy to slip into recession despite data on Friday showing growth had fallen to its lowest in a decade, Finance Minister Heng Swee Keat said.

“The latest advance GDP estimate released ... today reflects the heightened uncertainties and risks in the global economy, especially with the US-China trade tensions,” Heng said on his Facebook page.

“We are not expecting a full-year recession at this point, and there remain areas of strength in our economy.”

Reporting by Joe Brock; Editing by Clarence Fernandez

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