SINGAPORE: Singapore’s economy “remains resilient” in the face of high energy costs and is likely to expand as much as 5% in 2006, led by gains in shipments of electronic products, the central bank said.
South-East Asia’s fourth-biggest economy expanded 4.7% in the first nine months of this year, and growth for 2005 is expected to come in “around the upper end” of the government’s 3.5% to 4.5% forecast range, the Monetary Authority of Singapore said yesterday in its semi-annual currency policy statement.