Economists lift Singapore growth forecast slightly to 1.9%

Price pressures: A customer uses an ATM at a bank in Singapore. MAS expects headline inflation to average 5.5% to 6.5% and core inflation, 3.5% to 4.5%, in 2023. — Bloomberg

SINGAPORE: Private sector economists have raised slightly their forecast for Singapore’s economic growth in 2023, with the pace seen accelerating to 2.5% in 2024, according to a Monetary Authority of Singapore (MAS) survey.

Most of the 21 economists and analysts who participated in the quarterly survey believe robust growth in China, underpinned by economic reopening and policy easing, better-than-expected global growth, and a faster technology sector recovery could further boost Singapore’s outlook.