S'pore narrows forecast<\/p>\n
SINGAPORE (AFP): Singapore's deputy premier Lee Hsien Loong
\nsaid the island state, hit by an electronics slowdown, should
\npost economic growth at six to seven percent this year, narrowing
\nan earlier government forecast.<\/p>\n
"Singapore's growth slowed down last year, mostly because of
\nthe global electronics downturn. But we expect to make steady six
\nto seven percent growth this year and for the next few years,"
\nLee said at a Singapore-British Business Council dinner Tuesday.<\/p>\n
The electronics industry is the backbone of the city state's
\nmanufacturing sector.<\/p>\n
The global slowdown in electronics demand had pulled down
\nSingapore's crucial manufacturing output, resulting in economic
\ngrowth slowing down to seven percent in 1996 from 8.8 percent a
\nyear earlier and 10.5 percent in 1994.<\/p>\n
Lee's latest 1997 growth forecast is now closer to private
\nsector projections, which average about seven percent.<\/p>",
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