IMF cuts its Singapore 2025 growth forecast as Trump tariffs, US-China trade war bite

The Singapore economy is now seen growing 2 per cent, down from a previous forecast of 2.5 per cent. -- PHOTO: ST FILE

SINGAPORE (The Straits Times/ANN): The International Monetary Fund (IMF) slashed its 2025 growth forecast for Singapore, along with those of its Asean neighbours, saying the outlook has dimmed amid US President Donald Trump’s global tariffs and his escalating trade war with China.

The pace of Singapore’s economic growth will drop to 2 per cent in 2025, from 4.4 per cent achieved in 2024, said IMF in the latest update to its World Economic Outlook report on April 24.