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Singapore's 2021 GDP growth forecast revised up to 6.9 pct: survey

SINGAPORE
2021-12-08 16:01

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SINGAPORE, Dec. 8 (Xinhua) -- Singapore's GDP is expected to grow by 6.9 percent this year according to economists and analysts in the Survey of Professional Forecasters, the Monetary Authority of Singapore (MAS) said in a report on Wednesday.

This is slightly above the 6.6-percent forecast in the previous survey released by the MAS in September.

In the current survey, the respondents expect the economy to grow by 4.6 percent year-on-year in the fourth quarter of 2021.

As for inflation, the respondents forecast that Singapore's Consumer Price Index for all items (CPI-All Items) would grow by 2.1 percent in 2021, and the MAS core inflation, which excludes the costs of accommodation and private road transport, would come in at 0.9 percent.

The economists and analysts forecast that Singapore's GDP would grow by 4 percent next year, when the CPI-All Items inflation is expected to hit 2.1 percent, and the MAS core inflation is forecast to come in at 1.8 percent.

The MAS said this month's survey report reflects the views received from 22 respondents and does not represent MAS' views or forecasts.
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