Many countries likely to enter recession next year due to soaring inflation: Tharman

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Many countries are likely to enter a recession next year because of soaring inflation. This is what Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam told business leaders at an event organised by a Chinese media company. He said the world will also be in a “prolonged period of difficulty, fragmentation and vulnerability”. Mr Tharman said countries must work together to navigate past choppy waters.

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