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.
To be downloaded of the MTI website: