Reported 5 months ago
Singapore maintained its economic growth outlook for 2024, with a forecasted GDP growth of 1% to 3%, citing improving prospects in the US and China despite global risks like geopolitical tensions and diverging monetary policies. The first-quarter expansion was stronger than expected at 0.1%, with year-on-year growth of 2.7%. The government anticipates benefits from US and China growth, robust travel demand, but notes risks from geopolitical tensions and monetary policy desynchronization globally. The Monetary Authority of Singapore kept its policy unchanged, focusing on maintaining exchange rate stability to manage inflation. Singapore faces challenges such as high living costs, talent concerns, and technological disruptions.
Source: YAHOO