SINGAPORE, June 8 (Xinhua) -- The Monetary Authority of Singapore (MAS) announced in a report on Wednesday that economists and analysts polled in the Survey of Professional Forecasters expect Singapore's Gross Domestic Product (GDP) to expand by 3.8 percent in 2022.
This is 0.2 points lower than the 4-percent GDP forecast in the previous survey report released by MAS in March.
In the current survey, the respondents expect the economy to grow by 4.8 percent year on year in the second quarter of 2022. In the first quarter, the GDP grew by 3.7 percent year on year.
As for inflation, the respondents forecast that Singapore's Consumer Price Index for all items (CPI-All Items) would grow by 5 percent in the whole year of 2022, and the MAS core inflation, which excludes the costs of accommodation and private road transport, would come in at 3.4 percent.
The economists and analysts forecast that Singapore's GDP would grow by 3 percent in 2023, when the CPI-All Items inflation and the MAS core inflation are expected to come in at 3 percent and 2.8 percent, respectively.
MAS said this month's survey report reflects the views received from 24 respondents and does not represent MAS' views or forecasts. ■