Singapore - Singapore's Prime Minister Lee Hsien Loong predicted "a bumpy year ahead" Friday as the economic problems gripping the US are starting to have an impact on Asia.
On the eve of Singapore's 43rd National Day, Lee said the last 12 months were a period of economic uncertainty worldwide.
"Considering the external challenges, Singapore's economic results are good," he said in his annual message. For the first half of 2008, growth was 4.5 per cent and expected to be between 4 and 5 per cent for the whole year.
However, with the housing crisis adding further stress to the US financial system, American consumers are spending less, affecting the whole global economy, Lee said.
Singapore - Prime Minister Lee Hsien Loong offered to host a meeting of the Association of S
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