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Singapore economy expected to grow strongly in 2021/2, despite risks from resurgence of Covid-19 infections: AMRO

Amala Balakrishner
Amala Balakrishner11/12/2021 02:52 PM GMT+08  • 4 min read
Singapore economy expected to grow strongly in 2021/2, despite risks from resurgence of Covid-19 infections: AMRO
AMRO expects Singapore's GDP to expand by 6.5% this year, before moderating to 4% in 2022.
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The progressive resumption of economic activities since the second half of 2020 is set to see Singapore’s economy growing “strongly” in 2021 and 2022, say economists at the Asean +3 Macroeconomic Research Office (AMRO).

The macroeconomic watchdog is expecting the city-state’s GDP to expand by 6.5% this year, before moderating to 4% in 2022. Last year, the republic’s GDP contracted by 5.4%, as several economic activities ground to a halt in a bid to curb the spread of the coronavirus infections.

AMRO says the higher levels of growth in 2021 and 2022 will be driven by robust employment, domestic spending and external demand over the shorter-term.

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