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Singapore avoids recession as Lee warns of ‘troubled’ world

FILE PHOTO: Singapore’s Prime Minister Lee Hsien Loong attends a session of the Asean-Japan Commemorative Summit Meeting at the Hotel Okura Tokyo in Tokyo, Japan, Dec 17, 2023. (Reuters)

Singapore’s economy avoided a recession in 2023 as Prime Minister Lee Hsien Loong warned of a “troubled” international environment that will weigh on growth and security.

Gross domestic product expanded 1.2%, Lee said in his New Year’s message, compared with the trade…

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