Forecasters lower Singapore's 2024 growth to 2.3 pct-Xinhua

Forecasters lower Singapore's 2024 growth to 2.3 pct

Source: Xinhua

Editor: huaxia

2023-12-13 16:44:30

SINGAPORE, Dec. 13 (Xinhua) -- The Monetary Authority of Singapore (MAS) said in a report on Wednesday that economists and analysts polled in the quarterly Survey of Professional Forecasters expect the country's gross domestic product (GDP) to expand by 2.3 percent in 2024.

The number is 0.2 points lower than the 2.5-percent GDP forecast in the previous survey report.

Sluggish external growth, geopolitical tensions and inflationary pressures are the top downside risks to Singapore's growth next year, according to the survey collecting opinions from 25 economists and analysts who closely monitor the Singapore economy.

Recovery in the technology circle and more robust growth in China may contribute to a positive economic outcome for the city-state in 2024, said the report.

The respondents expect Singapore's economy to grow by 1.0 percent this year, unchanged from the previous survey.