half-yearly macroeconomic review

Inflation-growth dynamics of the global economy have turned less favourable in the past few months, says the macroeconomic review.

MAS is maintaining its forecast for Singapore’s GDP growth at 3% to 5% this year, barring an escalation in tensions between Russia

Singapore’s economy is seemingly on track to continue its expansionary path in the coming quarters

A pick up in the domestic and regional economy should benefit the banks and insurance segments, says MAS.

In the months ahead, a more muted relationship is expected between the response to Covid-19 and economic activity, says MAS.

Going forward, a more muted relationship is expected between the response to Covid-19 and economic activity, says MAS.

What’s ahead for Singapore’s economy?

How long will it take for Singapore’s economy to reach pre-Covid levels?

Ggiven uncertainty over how the health and economic crisis will pan out, Chan Chun Sing, Minister for Trade and Industry, says it is “very likely” for the republic’s economic growth to see a steeper fall.

“Overall, the near-term outlook for the Singapore economy is fraught with uncertainty. There is poor understanding of the evolution of the Covid-19 situation globally, which in turn implies that the depth and duration of the downturn in Singapore”: MAS