Amro cuts its Singapore economic growth forecast on war in Ukraine, China slowdown

The Straits Times LogoThe Straits Times1 mo ago

Amro cuts its Singapore economic growth forecast on war in Ukraine, China slowdown

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July 05, 2022 10:45 AM - Singapore's economy will grow less this year than previously estimated and may expand at a much slower pace in 2023.

Singapore's Minister of State for Trade and Industry Alvin Tan told Parliament on Monday that growth will slow this year and next but the Republic will avoid recession or stagflation.

The report said the war in Ukraine and sanctions on Russia are set to persist and will continue to exacerbate global supply chain woes that have led to higher global prices for fuel and food, causing inflation to accelerate across Asean+3.

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Article Details

Category: Economy

Topics: Growth Singapore Asean+3 Cent 2022 Forecast Region 2023 Grow Year Amro

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-05, 10:45:00

News Timezone: GMT +8:00

News Source URL:

Language: English

Reading Time: 5 minutes read

Article Length: 811 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 30264

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About The Straits Times

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Main Topics: Economy

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Update Frequency: 16 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 2h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

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Publisher ID: #25

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