Singaporean Economy To Grow 3.3 Pct In 2018: Report

The Monetary Authority of Singapore (MAS) announced in a report on Wednesday that economists and analysts polled in the survey of professional forecasters raised Singapore's 2018 growth forecast from previously predicted 3.2 percent to 3.3 percent.

SINGAPORE, (UrduPoint / Pakistan Point News - 12th Dec, 2018 ) :The Monetary Authority of Singapore (MAS) announced in a report on Wednesday that economists and analysts polled in the survey of professional forecasters raised Singapore's 2018 growth forecast from previously predicted 3.2 percent to 3.3 percent.

They also forecast that Singapore's 2019 economic growth would decline to 2.6 percent, from previously predicted 2.7 percent.

The MAS said the report reflects the views received from 23 respondents and does not represent MAS' views or forecasts. Singapore's Ministry of Trade and Industry announced last month that the 2018 GDP growth forecast for Singapore is 3.0 percent to 3.5 percent, and the economy is expected to grow by 1.5 to 3.

5 percent in 2019.

But as reflected by the mean probability distribution, the respondents of this survey estimate between 3 percent and 3.4 percent to be the most likely growth outcome for the Singaporean economy this year, and between 2.5 and 2.9 percent for the economy next year, according to the survey result.

The results of the MAS-run survey also show as reflected by the mean probability distribution, the respondents project CPI-All Items Inflation and MAS Core Inflation to most likely fall in the ranges of 0.5-0.9 percent and 1.5-1.9 percent respectively in 2018; and in the ranges of 1-1.9 percent and 1.5-1.9 percent respectively in 2019.

The report says trade protectionism remains a key concern of the respondents.