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Private sector economists have raised slightly their forecast for Singapore’s economic growth in 2023, with the pace seen accelerating to 2.5 percent 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.
The median forecast for gross domestic product (GDP) growth in the survey, which was conducted in February, came in at 1.9 percent for the whole of 2023. This was up from the 1.8 percent GDP growth projected in the previous survey published last December.
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