Singapore’s economic forecast adjusted, Sweden strengthens defence ties, and WWII bomb safely removed.
In a recent economic update, Singapore has revised its growth forecast for 2024 to approximately 3.5%, driven by a stronger-than-expected performance in the first half of the year. However, despite the positive revision, experts are predicting a slowdown in 2025, with growth expected to range between 1% and 3%. This cautious outlook comes in response to ongoing global economic uncertainties, including inflationary pressures, geopolitical tensions, and supply chain disruptions that continue to weigh on global markets. The Ministry of Trade and Industry (MTI) has noted that while Singapore’s economy remains resilient, it faces challenges in navigating external risks.
In other news, Sweden has signalled its intention to deepen its defence relations with Singapore, particularly in the area of maritime security. The move follows a series of expanded agreements during the recent three-day visit by the Swedish King, Carl XVI Gustaf, who was accompanied by Swedish government officials and business leaders. Sweden and Singapore have long shared strong economic and political ties, and this new initiative aims to bolster cooperation in defence, research, and technology. Both countries are keen on improving joint efforts to ensure security in international waters, especially in light of rising maritime threats in the Indo-Pacific region.
Meanwhile, a significant World War II relic was safely removed from the area near Lornie Road. The unexploded bomb, discovered at 239 Sime Road, was promptly identified by authorities and rendered safe by the Singapore Armed Forces (SAF). The bomb was part of the many unexploded ordnance remnants from the war era that are occasionally discovered during construction and urban development. The SAF carried out a controlled disposal operation to ensure the safety of nearby residents and passersby. The discovery serves as a reminder of Singapore’s wartime history and the ongoing efforts to clear such remnants from the urban landscape.
These stories highlight some of the current events shaping the region, as Singapore balances its economic recovery with global risks, strengthens international defence ties, and continues to address its wartime legacy.
