Expat Mag (en)
The economic outlook is getting greyish in Singapore
The Singapore Ministry of Trade and Industry (MTI) published yesterday it's growth previsions for the country in 2012. With an estimate between 1% and 3%, Growth is showing an impressive slow down compared to previous years: 14,5% last year (2010), and a prevision of 5% this year
The figure that was released is the worst since the 2008-2009 crisis (-0,8% in 2009). It could yet be revised if the global economic context continued to degrade, with the debt in the Euro zone, or in case of a global financial crisis.
Such a weak growth perspective should have a negative impact on the job market and lead to pressure to lower salaries. A situation that leads to no enthusiasm on the front of international mobility and concerning the opportunities for job seekers and potential new entrepreneurs.
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