SINGAPORE, Feb 7 (Reuters) - Singapore's Prime Minister Lee Hsien Loong said on Sunday the city-state's economic outlook is filled with uncertainty, but the government does not expect a severe downturn like that which occurred during the global financial crisis.
Sluggish global demand has weighed on Singapore's trade-reliant economy. Its economic growth slowed to 2.1 percent in 2015, the weakest performance since 2009, when the economy contracted 0.6 percent.
"I know that the economic outlook is filled with uncertainty. The world economy is slowing, and even China's economy is softening," Lee said in his Lunar New Year message.
He noted that global stock markets are down and that business sentiment in Singapore is guarded, prompting the government to watch the situation closely.
"We do not expect a severe downturn, like the global financial crisis in 2008," he said, adding: "The government will continue to support businesses and workers as we restructure and upgrade."
Against a backdrop of low inflation and tepid global growth, Singapore's central bank eased monetary policy twice in 2015. The central bank's next semiannual policy review is in April.
Singapore's economic growth is expected to remain moderate in 2016, with the government currently forecasting GDP growth of 1.0 percent to 3.0 percent.
(Reporting by Masayuki Kitano; Editing by Paul Simao)