Still possible for Singapore’s economy to grow 6% or more this year, economists say
SINGAPORE: There is still a possibility for Singapore to chalk up growth of 6 per cent or more this year, according to economists who do not expect the recently imposed COVID-19 curbs to throw the economic recovery off course for now.
These economists have pencilled in full-year estimates of 6 per cent to 7 per cent growth, even as authorities on Tuesday (May 25) opted to maintain an earlier forecast for gross domestic product (GDP) to be between 4 per cent and 6 per cent for 2021.
The authorities said last month that it was possible for Singapore’s rebound in 2021 to exceed the upper end of this forecast range.
But since then, the country has witnessed a spike in community infections and active clusters, prompting the roll-out of tighter curbs such as a ban on dine-ins and a cap of two people for social gatherings until Jun 13.