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Singapore maintains forecast for economic growth at 1-3% in 2024

Singapore maintained its forecast for the economy to grow 1-3% in 2024, as it warned that downside risks to the global economy remain significant.
Singapore maintains forecast for economic growth at 1-3% in 2024 ảnh 1An overview of Singapore (Photo: Internet)

Hanoi (VNA) – Singaporemaintained its forecast for the economy to grow 1-3% in 2024, as it warned thatdownside risks to the global economy remain significant.

For2023, the economy grew 1.1%, slowing from the 3.8% expansion in 2022, theMinistry of Trade and Industry said on February 15. The figure was below the1.2% the official estimate made in January.

The ministry saidSingapore’s external demand outlook for 2024 has remained largely unchangedsince its last review in November.

𒁏 However, the global economy still faces seriousdownside risks. These include the Israel-Hamas conflict, the lagged effects ofmonetary tightening stressing regional economies with external funding needs,and idiosyncratic cost shocks that could weaken the economic recovery momentum./.

VNA

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