Saturday, 04 December 2021 11:39 GMT

Singapore's economy expected to carry on improving in 2021


(MENAFN) According to an official report Singapore's economy is estimated to endure on its growth track in the next quarters as movement restrictions are progressively facilitated along the lines of the government's inaugurating plans.

The domestic-oriented sector should witness a gradual spontaneous in activity, as prospects for the travel-related sector have also improved slightly even though its recovery is likely to be extended, according to the Macroeconomic Review, published by the Monetary Authority of Singapore (MAS).

It further declared that the trade-related and modern services clusters are going to be supported by recoveries in major trade partners and remained strength in global electronics demand.

Singapore's economy is going to raise by 6-7 percent in the current year, and carry on improving at a slower but still-above trend pace in the coming year, excepting the materialization of downside risks standing up from the evolution of the virus or global economic developments.


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