Singapore’s gross domestic product (GDP) is expected to expand by 5.8% in 2021, 0.3 percentage points above the 5.5% forecast in the previous survey, according to the quarterly survey released by the Monetary Authority of Singapore (MAS).

The MAS Survey of Professional Forecasters, which comprised 24 private-sector economists and analysts, said the Singapore economy is “most likely” to grow by 5.0% to 6.9% with a combined probability of 61.8%.

In the previous survey, the economy was projected to grow between 5.0% to 5.9% in 2021, with an average probability of 27.9%.

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