SINGAPORE, March 3 -- Deputy Prime Minister Gan Kim Yong has warned that Singapore may need to revise its growth and inflation outlook if the deepening conflict in Iran continues to disrupt global energy flows, CNA reported.

Addressing parliament during the Committee of Supply debates yesterday, Gan said the government is watching the closure of the Strait of Hormuz "closely", noting its critical role in global shipments of crude oil and liquefied natural gas.

"Higher energy prices could lead to higher costs for businesses and consumers, and weigh on the global and Singapore economies," he said, according to the Singapore-based media organisation.

"We are monitoring the developments closely and will reassess our GDP and inflation forec...