raised its inflation forecast for this year from 5 per cent to 6 per cent.
Singapore is one of 2021’s top-performing advanced economies, with real GDP growth reaching 7.6 per cent and overall activity surpassing pre-Covid-19 levels, IMF noted. However, for 2022, the country’s economic growth is expected by the IMF to be at 3.7 per cent, which is already lower than the 4 per cent it predicted last May.”It is going to be a tough 2022, and possibly an even tougher 2023, with increased risk of recession,” wroteDespite IMF’s praise for Singapore’s economic performance, netizens remain concerned, especially over the high rate of inflation.
Source: Energy Industry News (energyindustrynews.net)
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