Sunday Mar 16, 2025
Wednesday, 17 July 2019 00:00 - - {{hitsCtrl.values.hits}}
SINGAPORE (Reuters): The International Monetary Fund (IMF) has trimmed its 2019 economic growth forecast for Singapore to 2% from 2.3%, the Washington-based lender said on Tuesday, as global trade tensions hit exports from the city-state.
Singapore’s economy grew just 0.1% in the second quarter, its slowest annual pace in a decade, raising bets of a recession and monetary policy easing.
“Given global trade tensions, support from external sectors is expected to fall and growth drivers are projected to shift back to domestic demand,” the IMF said.
“Risks to the outlook are tilted to the downside and mainly stem from external sources, including a tightening of global financial conditions, escalation of sustained trade tensions, and deceleration of global growth.”
Singapore’s economic growth should stabilize around 2.5% over the medium term, the IMF said, adding that its forecasts were based on discussions with Singaporean officials that ended on 14 May.
Singapore’s central bank forecasts growth this year to be between 1.5% and 2.5%, down from 3.2% in 2018.
Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.
Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.