Singapore (VNA) – The Ministry of Tradeand Industry (MTI) of Singapore has forecasted that the country’s economy willexpand by between 1-3 percent in 2017 following a growth rate of 2 percent lastyear.
The forecast came in the context that the global economyis expected to slightly recover in 2017 and the US and ASEAN economies improve,even as China’s growth continues to moderate.
However, the MTI warned that the global economy’srecovery might be unsecured as political risks and economic uncertainties may arise with the upcoming elections in key Euro zoneeconomies and the UK is going to embark on negotiations on its exit from theEuropean Union (EU).
According tothe MTI, there are also signs of a rise in anti-globalisation sentiments andprotectionist approaches could generate knock-on effects on economic growthworldwide.
Political risks and thelack of clarity on the policies of the new US administration have alsoheightened economic uncertainties globally and led to financial marketvolatility.
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