Singapore’s economy grew 4.4% in the third quarter of 2022, compared to the same period last year, according to estimates released by the government on October 14.
At a restaurant in a commercial centre in Singapore. (Photo: AFP/VNA)
Hanoi (VNA) – Singapore’s economy grew 4.4% in the third quarter of 2022, compared to the same period last year, according to estimates released by the government on October 14.
However, businesses and people were warned to be cautious in the context that the world still faces a lot of challenges such as inflation.
The Monetary Authority of Singapore (MAS) attributed the above-mentioned result to a stronger-than-anticipated recovery in domestic tourism and trade sectors.
The Singaporean government has relaxed all restrictions against the COVID-19 pandemic after effectively implementing the vaccination campaign, thereby facilitating economic recovery. However, the central bank also noted that manufacturing output and financial services weakened in the quarter due to reduced foreign trade demand.
A technical recession was averted as the economy grew 1.5% quarter on quarter on a seasonally adjusted basis, a turnaround from the 0.2% contraction in the second quarter.
MAS also announced its intention to further tighten monetary policy to make room for a stronger Singapore dollar to cope with the impact of rising costs. This will be the fifth time MAS has made similar moves to control inflation since October 2021. MAS believed that the tightening of global monetary policy will continue to be an obstacle to economies and this trend will increase in the coming time.
MAS projected core inflation at around 4.0% this year while headline inflation was expected to be 6.0% amid global challenges. The authority said that although inflation will "cool down" eventually, it will remain high for a while.
🅠 Singapore's economy was forecast to grow by 3-4% in 2022, from a previous projection of 3-5%./.
The Singaporean labour market continued to improve in the second quarter of 2022, with total employment reaching 99.5% of the level in December 2019, before the COVID-19 pandemic, said the country's Ministry of Manpower's (MOM) Labour Market Report on September 14.
Singapore spent 72.3 billion SGD (51.3 bilion USD) on fighting the COVID-19 pandemic over the past two fiscal years, Singapore’s Second Minister for Finance Indranee Rajah said at a recent meeting of the country's parliament.
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.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
At a restaurant in a commercial centre in Singapore. (Photo: AFP/VNA) 
