DBS expects Singapore GDP to double by 2040, Singapore dollar parity with greenback

Motorists go about their routines with the central business district of Singapore in the background. — Bloomberg

SINGAPORE: DBS Group Research on Wednesday said it expects Singapore's gross domestic product to double by 2040, with its benchmark Straits Times Index potentially climbing to nearly 10,000 and the Singapore dollar reaching parity with the U.S. dollar.

In a report, the research arm of Singapore's largest bank, DBS, said it expected real gross domestic product growth to average 2.3% a year over the next 15 years, outpacing other advanced economies.