Singapore official says trade tariffs could renew inflationary pressures, disrupt easing

A trade official in Singapore with the comments:

  • Global economic uncertainties have increased, including over policies of the incoming U.S. administration.
  • Singapore electronics cluster projected to continue to expand, supported by strong global semiconductor demand.
  • Trade tariffs could renew inflationary pressures, which could disrupt the pace of monetary easing.
  • Not ruling out that GDP growth could exceed 3.5% in 2024

Data from earlier:

In the wake of the figures the Ministry of Trade and Industry upgraded Singapore’s 2024 GDP growth forecast to around 3.5% from 2.0%-3.0% previously.

  • It has also forecast Singapore’s 2025 GDP growth at 1.0%-3.0%.

This article was written by Eamonn Sheridan at www.forexlive.com.

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