The Ministry of Trade and Industry (MTI) expects Singapore’s economy to grow around 3.5% in 2024, exceeding its initial forecast of 1.0% to 3.0%. MTI upgraded its growth forecast after the better-than-expected performance of the Singapore economy in the first quarters of the year. In Q3, GDP expanded by 5.4% YoY, faster than the Q2 growth of 3.0%. For the first three quarters of the year, GDP growth averaged 3.8% YoY. In 2025, however, MTI expects Singapore’s GDP growth to ease slightly from 2024  due to slower growth among key trading partners, particularly the United States.   https://sbr.com.sg/economy/news/mti-raises-singapores-2024-economic-growth-forecast-around-35 (ICE SINGAPORE)

Fonte notizia: Singapore Business Review, 23 November 2024