Singapore will feel the impact of increasing global tensions with economic growth set to slow this year, Prime Minister Lawrence Wong said in his budget speech in parliament on Tuesday. Wong, who is also finance minister, said the United States and China were locked in a contest for supremacy, and were prepared to take more assertive actions to advance their interests. Singapore’s GDP accelerated to 4.4% in 2024 from a revised 1.8% in 2023, but the trade ministry expects growth in 2025 to moderate to 1.0% to 3.0%, a forecast Wong reiterated on Tuesday.Read More
