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flag Singapore's PM warns economy will slow due to Strait of Hormuz closure and Middle East conflict.

flag Singapore's Prime Minister Lawrence Wong warned at the May Day Rally that the economy will slow due to the prolonged closure of the Strait of Hormuz. flag The ongoing Middle East conflict is causing severe supply chain disruptions and rising inflation, threatening global trade. flag While Singapore is better positioned than most due to its energy resilience, the government has launched a support package including cash payouts and tax rebates to cushion the impact.

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