Hanoi (VNA), Feb. 16 -- Singapore is cautiously optimistic about 2024 and expects higher gross domestic product (GDP) growth, at 1%-3%, Deputy Prime Minister Lawrence Wong has said.

Amid a troubled international environment and subdued global economy, Singapore's economy grew by 1.1% last year and avoided a recession, Wong said while presenting the 2024 budget bill to the Parliament.

The global outlook for 2024 is mixed as major economies will be resilient while geopolitical risks continue to loom larger and may lead to disruptions in energy markets and supply chains, he noted.

Meanwhile, global inflation is expected to recede in 2024, and the electronics industry will recover. Asian economies, including China, India, and Southeast Asi...