Macro - Country Economic Forecasts - Singapore

Macro - Country Economic Forecasts - Singapore



We've revised down our forecast for Singapore's economic growth to slow from 3.6% in 2024 to 3.3% in 2025. That largely reflects the low base from a year ago dropping out of the comparison. We assume economic momentum has dropped back in Q4 but will rebound gradually over 2025. Inflation is now within the Monetary Authority of Singapore's soft target of "just below 2%", so the central bank's focus has now turned to currency pressures.


Singapore: Economic momentum likely to remain healthy in 2025
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

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