Singapore, May 1, 2026 (AFP) - Singapore economy to 'slow' this year on prolonged Hormuz closure: PM

NAMPA / AFP

2026-05-01

Singapore's prime minister warned Friday that economic growth will slow this year and some countries may slip into recession as the Middle East keeps the Strait of Hormuz closed. In a May Day speech, Lawrence Wong said the war was not expected "to be over anytime soon" and supply disruptions may worsen in the months ahead. Shipping through the strait, which handles a fifth of global oil and gas, has been effectively stopped since the United State......

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