Singapore Says It May Review GDP Outlook on Iran Crisis, Oil

Singapore Deputy Prime Minister Gan Kim Yong said the city-state will revise its economic outlook, if needed, due to the crisis in the Middle East which could push up global energy prices.

“Depending on how protracted the conflict is, higher energy prices could lead to higher costs for businesses and consumers and weigh on the global and Singapore economies,” he told parliament on Monday. “We are monitoring the developments closely and will reassess our GDP and inflation forecasts if necessary.”