| The outlook for the
external environment remains positive, but the sentiments
in Europe and the US have turned less optimistic in
recent months. Regional growth is also expected to be
lower after strong growht in recent years. Prospects
for the electronics industry remain bright though growth
in demand is expected to moderate from that in 1995.
With slightly slower growth in external
demand and continued pressure on costs and competitiveness,
the Singapore economy is likely to see slower growth
in 1996. The Ministry of Trade and Industry has therefore
retained its earlier forecast of 7-8 per cent growth
for 1996. |
