Experts predict global GDP growth

Experts are forecasting a small growth in the global gross domestic product (GDP) due to the stabilisation of several leading markets such as the United States and Singapore, according to speakers at a seminar organised by Baiduri Bank yesterday.

The speakers also said that more economies are slowly opening while business restrictions are gradually being lifted in certain countries. The seminar organised by Baiduri Bank was to keep their clients and business counterparts informed with the latest developments in the global market and also help them address challenges facing their businesses in a
volatile environment.

The ‘Getting the Shots for Recovery’ seminar held in collaboration with DBS Bank was attended by government institutions, government linked companies (GLCs) and Baiduri Bank’s local business partners. Rates Strategist (G3 & Asia) Eugene Low, and Executive Director of Group Research Philip Wee at DBS Bank gave a global economic outlook before providing the guests with their predictions and insights on global market developments in the next few months via video call.

The speakers analysed the effectiveness of the current global vaccination rollout and economic policies such as the United States’ recent fiscal stimulus package in supporting the acceleration of economic growth. The event ended with a question-and-answer session.

Head of Group Treasury and Institutional Banking Awangku Nor Muhammad Nizam bin Pengiran Haji Tengah, said: “This is the first seminar held specially for our institutional clients. We hope to continue providing more platforms and resources to share insights that will help our clients to be more effective in treasury management.”

Meanwhile, Chief Executive Officer of Baiduri Bank Ti Eng Hui in his welcoming remarks said: “Analysts have already forecasted this year to be a year that the world’s economies may start to recover, with developments in vaccination programmes, and markets steadily improving.

“By leveraging our global partnership network, we hope to connect our clients with the latest research developments, enabling them to seize new opportunities and be better equipped to overcome the post-pandemic challenges.”

Participants at the ‘Getting the Shots for Recovery’ seminar. PHOTO: BAIDURI BANK