SINGAPORE -- Singapore's economy grew 1.2% last year, according to preliminary data released on Tuesday, avoiding a recession amid a global economic slowdown stemming from high interest rates.
Economy
Singapore's GDP growth slows to 1.2% in 2023
City-state expects 1%-3% expansion for 2024 as external demand to recover
Singapore's government anticipates economic growth this year will be driven by exports, particularly of semiconductors. (Photo by Fumito Akiyama)
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