Singapore's 2021 economic growth could exceed forecast of 4% to 6%: Central bank chief

should continue on its gradual recovery path, with the 2021 forecast unchanged at 0 to 1 per cent. MAS revised its CPI-All Items inflation forecast to 1 to 2 per cent from 0.5 to 1.5 per cent, due to a sharp rise in COE premiums in the second quarter.

While nominal GDP contracted 8.2 per cent last year, the residential property price index rose by 1.6 per cent. In the first quarter of 2021, the index was 5.6 per cent above pre-pandemic levels, even as GDP was about 4 per cent below pre-COVID-19 levels, said MAS. When asked later if any cooling measures were being considered, Mr Menon said that the market was currently not"overheated":"We will never tell in advance whether we're going to implement measures - that defeats the purpose of implementing the measures. So stay tuned and just watch, and we hope the market will continue to remain stable."Last year, the financial services sector grew by 5.1 per cent even as the overall economy contracted.

I hope the economlc growth could exceed 10%

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

World Bank raises China growth outlook to 8.5%World Bank raises China growth outlook to 8.5per cent 不愧為中國速度
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Thai central bank to adjust forex rules to cope with volatilityThailand's central bank is considering adjusting the foreign exchange regulatory framework to help the economy better cope with volatility, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China setting pace in central bank digital currency - Japan ex-regulator EndoTOKYO: China's progress toward issuing a central bank digital currency (CBDC) will have a huge impact on how quickly advanced economies follow ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Homegrown property service firms eyeing overseas markets despite pandemicSINGAPORE: Homegrown property service firms are venturing overseas in pursuit of new growth in the region, unfazed by new waves of infections amid ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Sabah eyes trade and tourism office in SingaporeKOTA KINABALU, June 28 — Sabah is planning to set up a trade and tourism office in Singapore to promote business potential between these two regions. Sabah Chief Minister Datuk Seri Hajiji Noor...
Source: YahooSG - 🏆 3. / 71 Read more »

Commentary: The great promise of self-driving cars that wasn'tNearly 10 years ago big tech companies like Google promised a future of autonomous vehicles but it’s 2021 and there’s no proof of this promise yet.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »