Singapore financial sector grew 6% in first half of 2021: MAS chief

Singapore’s economic growth this year can exceed the upper end of the official forecast of 4% to 6%, saysRavi Menon. - ST FILE

SINGAPORE (The Straits Times/ANN): Singapore’s financial sector outperformed the overall economy last year by growing at a pace that was even faster than 2019, before the onset of the Covid-19 outbreak, the central bank’s annual report showed.

The sector is also on its way for another year of robust growth with the Monetary Authority of Singapore (MAS) estimating expansion in the first half of 2021 at 6 per cent, its managing director Ravi Menon said at a briefing on the report on Wednesday (June 30).