While the city-state’s economic growth will slow, inflation may moderate in the second half of this year, Prime Minister Lee Hsien Loong said in an e-mailed speech. The Monetary Authority of Singapore said earlier this month that the nation’s economy will“There is a risk of recessions in Western countries as central banks continue raising interest rates to dampen inflation,” said Lee.
Lee said retrenchment rates have remained “manageable” as the government rolls out policies to reskill its population in the expectation that emerging green industries and technologies like artificial intelligence will disrupt global economies.
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