SINGAPORE (XINHUA) – The Monetary Authority of Singapore (MAS) said yesterday that economists and analysts forecast the country’s gross domestic product expanding at 2.4 per cent this year, unchanged from the previous forecast in March.
Respondents cited the spillover of geopolitical tensions as the top downside risk to the domestic economic outlook. Meanwhile, over 70 per cent of respondents identified China’s robust growth as a driving force for Singapore’s economy.
The median forecast for Singapore’s all-items inflation this year was 2.8 per cent, down from 3.1 per cent in the March survey.
The MAS surveyed 26 economists and analysts and received views from 20 respondents.
The Singapore economy expanded by 2.7 per cent year-on-year in the first quarter of this year.
