Singapore Property Review

October 29, 2007, 12.34 pm (Singapore time)

SINGAPORE - Singapore Trade and Industry Minister Lim Hng Kiang on Monday played down risks the fast-growing city-state’s economy would overheat as inflation was expected to fall between the government’s forecast range of 1.5 to 2 per cent this year.

Mr Lim also said he was confident growth prospects would not be hurt by a slowdown in the global economy thanks to demand from within Asia.

‘The economy is growing very strongly. There are some supply constraints, and we are taking steps to relieve the supply constraints with regard to manpower and space. So we don’t see serious overheating problems,’ he said.

His comments came after some economists warned that the US$129 billion economy may overheat as strong wage and employment growth, as well as rising office and residential rents, have helped push inflation to a 12-year high.

Full Article at BT…

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