Insight - Singapore signals more stimulus may not help amid global risks

GDP down: A container ship docked at the Pasir Panjang Terminal. Singapore’s GDP declined an annualised 41.2% in the second quarter from the previous three months. — Bloomberg

THE biggest economic uncertainty Singapore faces is something it can’t control – global demand for its goods and services – and in that case, additional government stimulus may not be the best remedy, according to the city-state’s trade minister.

“The greatest uncertainty and the downside risks at this point in time is the global external demand, and I don’t think fiscal measures alone will be the most appropriate for this kind of challenge, ” Trade and Industry Minister Chan Chun Sing said in an interview with Bloomberg TV’s Haslinda Amin.