Finance

Singapore central bank chief says 2021 economic growth could exceed forecast By Reuters

© Reuters. FILE PHOTO: The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore in this February 21, 2013 file photo. REUTERS/Edgar Su/File Photo

SINGAPORE (Reuters) – Singapore’s economic growth could exceed the upper end of the official 4% to 6% forecast range this year, barring a setback to the global economy, central bank chief Ravi Menon reiterated on Wednesday.

“The broader economy should see a recovery in the second half of this year alongside strengthening global demand and further progress in our vaccination programme,” the Monetary Authority of Singapore’s (MAS) managing director said in a speech that accompanied the release of the central bank’s annual report.

The Singapore economy has recouped during the first quarter of 2021 the aggregate output loss incurred during the pandemic, Menon said.

Singapore’s trade-reliant economy is officially forecast to grow 4% to 6% this year, recovering from the recession induced by the COVID-19 pandemic in 2020, its worst on record.

The city-state is often seen as a bellwether for global growth as international trade dwarfs its domestic economy.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button