Singapore economy to grow 6.5 percent this year: MAS survey
Despite the latest round of tighter COVID-19 restrictions, Singapore’s economy will grow by 6.5 percent this year, higher than the Government’s forecast of 4-6 percent, according to the latest survey released by the Monetary Authority of Singapore (MAS).
Container loading and unloading at Pasir Panjang port of Singapore (Photo: VNA)
Singapore (VNA) – Despite the latest round of tighterCOVID-19 restrictions, Singapore’s economy will grow by 6.5 percent this year,higher than the Government’s forecast of 4-6 percent, according to the latest surveyreleased by the Monetary Authority of Singapore (MAS).
The country’s economy expanded 1.3 percent in the firstquarter of this year despite earlier forecast of a 1.1 percentcontraction.
Survey respondents expected the economy to increase 15 percent year on year inthe second quarter, a robust jump off Singapore’s worst-ever quarter on record lastyear when GDP plunged 13.2 percent.
The forecast for the country’s GDP growth nextyear has also been raised to 4 percent from 3.8 percent in the March survey,reported The Straits Times.
Effective containment of the COVID-19 outbreak was the mostimportant factor that prompts the economists raising their growth outlook forSingapore.
They also cited the stronger-than-expected manufacturing sectorperformance, driven in part by robust global demand for electronics, as a bigupside factor. The prospect of reopening borders to international travel couldalso be a boon to the economy.
At the same time, deterioration in the pandemic situation andtighter public health measures as a result was the top downside risk to thegrowth outlook.
The economists polled were also concerned about geopoliticalrisks, including those stemming from US-China tensions, and aslower-than-expected labour market recovery, which could weigh on privateconsumption./.
Singaporean officials said the country will ease COVID-19 restrictions in 2 phases from June 14, following a steady drop in the number of cases in the community.
Prime Minister of Singapore Lee Hsien Loong and his Australian counterpart Scott Morrison on June 10 agreed to work towards a travel bubble, aiming to resume safe travel between the countries in the coming time.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
Container loading and unloading at Pasir Panjang port of Singapore (Photo: VNA) 
