Singapore's central bank chief sees sustainable growth at 2-4%

(Jan 15): Singapore’s economic recovery is broadening out in the city state, but there are still “real challenges” in the labor market, central bank Managing Director Ravi Menon said.

Sustainable economic growth is estimated at 2% to 4%, Menon told delegates at the UBS Wealth Insights Conference Monday in Singapore. Manufacturing is resilient and financial services are “doing well,” he said.

The challenge on the labor supply side is whether Singapore can raise productivity given that its workforce is already well-educated and skilled, Menon said.

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