Central Banks
Singapore’s MAS Sees 2024 GDP Growth Near Upper Half of Forecast
- Central bank is vigilant to multiple risks to global growth
- Core inflation is forecast to reach around 2% in 2025
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Singapore’s central bank expects the island’s economy to expand near the upper half of a 1%-to-3% range forecast for this year, even as geopolitical tensions and higher global interest rates continue to pose challenges.
Singapore’s gross domestic product growth “will come in closer to its potential rate of 2%-3%” in 2024, Monetary Authority of Singapore Managing Director Chia Der Jiun said at a briefing on Thursday to discuss the central bank’s annual report. Core inflation will stay on its disinflation path and reach around 2% in 2025, he said.