raised its inflation forecast for this year from 5 per cent to 6 per cent.
Singapore is one of 2021’s top-performing advanced economies, with real GDP growth reaching 7.6 per cent and overall activity surpassing pre-Covid-19 levels, IMF noted. However, for 2022, the country’s economic growth is expected by the IMF to be at 3.7 per cent, which is already lower than the 4 per cent it predicted last May.”It is going to be a tough 2022, and possibly an even tougher 2023, with increased risk of recession,” wroteDespite IMF’s praise for Singapore’s economic performance, netizens remain concerned, especially over the high rate of inflation.
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