Gross Domestic Product reduction between 2 and 5 percent expected . Ministry cites data on the United States retail sales and unemployment , Asian exports . Singapore 's economy grew by 1.2 percent in 2008 , the government said , far lower than its 7.7 percent growth in 2007 . Finance minister expected to deliver the Thursday budget statement 2009 .
Gross Domestic Product reduction between 2 and 5 percent expected . Ministry cites data on the United States retail sales and unemployment , Asian exports . Finance minister expected to deliver the Thursday budget statement 2009 .