Gross domestic product grew 1.3 percent year-on-year in the first quarter, the Ministry of Trade and Industry said on Tuesday, higher than the 0.2 percent growth seen in the government's advance estimate.
Authorities had last month said growth could exceed the upper end of the forecast range, recovering from the recession induced by the COVID-19 pandemic in 2020, its worst on record. On a quarter-on-quarter seasonally-adjusted basis, the economy expanded 3.1 percent in the first quarter. "The accommodative, supportive impulse from both fiscal and monetary policy continues to flow through the system," said Edward Robinson, deputy managing director of the Monetary Authority of Singapore.
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